Massachusetts Home Sales Down in November

by Eric Berman - eberman@marealtor.com - 781-839-5507 | Dec 27, 2018

Massachusetts Home Sales Down in November 

Inventory of single-family homes and condominiums at record monthly lows  

WALTHAM, Mass. – December 27, 2018 – The Massachusetts Association of Realtors® (MAR) reported today that closed sales for both single-family homes and condominiums dropped year-over-year from last November. There was a four percent hike in median price for single-family homes and a one percent hike in condominiums compared to this time last year. November saw the lowest number of single-family homes and condominiums for sale in the month of November since MAR began reporting the data in 2004. 

November 2018 Closed Sales: 

Single-Family

November 2018

November 2017

%Change

Sales

4,966

5,010

-0.9%

Median Price

$395,000

$380,000

+4.1%

  • Closed sales have been down or flat nine out of the last 12 months 

  • Median prices have been up or flat for 35 out of the last 36 months 

 

Condominium

November 2018

November 2017

%Change

Sales

1,760

1,994

-11.7%

Median Price

$375,000

$369,900

+1.4%

 

  • Closed sales have been down or flat for eight out of the last 12 months 

  • Median prices have been up or flat for 34 out of the last 36 months 

“Being a home buyer in November was like going to the supermarket to prepare for your Thanksgiving meal, but when you got to the store, there was almost nothing to buy,” said 2018 MAR President Rita Coffey, general manager of CENTURY 21 Tullish & Clancy in Weymouth. “No matter how we describe it, this is a trend that will most likely continue until more homes are available for sale.”

Inventory and Days on Market:  

Single-Family

November 2018

November 2017

%Change

Inventory

13,411

14,815

-9.5%

Months of Supply

2.8

3.1

-9.7%

Days on Market

61

66

-7.6%

New Listings

4,217

4,239

-0.5%

  • 81st time in the last 82 months of year-over-year inventory decreases  

  • Lowest number of homes for sale in the month of November 


Condominium

November 2018

November 2017

%Change

Inventory

4,262

4,284

-0.5%

Months of Supply

2.3

2.3

0%

Days on Market

50

48

+4.2%

New Listings

1,677

1,704

-1.6%

  • Inventory down or flat for 32 out of the last 32 months 

  • Lowest number of condos for sale in the month of November 

 

About the Massachusetts Association of Realtors®: Organized in 1924, the Massachusetts Association of Realtors® is a professional trade organization with more than 24,000 members. The term Realtor® is registered as the exclusive designation of members of the National Association of Realtors® who subscribe to a strict code of ethics and enjoy continuing education programs.  

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Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.