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Massachusetts Real Estate Housing Data


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2017 Profile of Home Buyers and Sellers Massachusetts -
Now Available

- Executive Summary


2018 Closed Sales Data
Executive Summaries
January
February
March
April
May
June
July
2017 Closed Sales Data
Executive Summaries
January
February
March
April
May
June
July
August
September
October
November
December (revised)
2016 Closed Sales Data

Executive Summaries
December
November
October
September
August
July
June
May
April
March
February
January

*The MAR housing data is collected using a live-data approach. Read more about the live-data approach
here.

Recent Housing Data News Releases

Massachusetts Pending Home Sales Up in February While Prices Rise Year-Over-Year

by Eric Berman - eberman@marealtor.com - 781-839-5507 | Mar 14, 2018

Realtors® say their clients are slightly worried about rising interest rates 
 
WALTHAM, Mass. – March 14, 2018 – The Massachusetts Association of Realtors® (MAR) reported today that the number of homes and condominiums put under agreement in the month of February increased over last year. Median prices for both single-family homes and condominiums saw a hike year-over-year as well. Half of the Realtors® who responded to our survey reported that their clients are slightly worried about rising interest rates.  

February Pending Sales: 

Single-Family

February 2018

February 2017

% Change

Sales

3,981

3,560

11.8%

Median Price

$350,000

$327,200

7.0%

  • Pending sales have been up nine of the last 12 months 

Condominium

February 2018

February 2017

% Change

Sales

1,668

1,415

17.9%

Median Price

$350,000

$315,000

11.1%

  • Pending sales have been up 11 of the last 12 months 

“Despite inventory dipping below 10,000 homes the last few months, buyers were able to come out and make offers in February that pushed pending home sales up over last year,” said 2018 MAR President Rita Coffey, general manager of CENTURY 21 Tullish & Clancy in Weymouth.  

Realtor® Market and Price Confidence Indexes: 

Confidence Index

February2018

February2017

%Change

Market

76.32

75.20

2.4%

Price

75.85

77.00

-1.5%

  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition     

“The competitive nature of low inventory and high demand is keeping Realtors® confident in the market,” said Coffey.  

Monthly ‘Hot Topic’ Question: 

The February “Hot Topic” question asked Realtors® how they would describe their clients' concern with rising interest rates. Of those who responded, 50 percent said their clients are slightly worried about rising interest rates. Another 26 percent reported that their clients are not worried about the rates. A remaining 24 percent reported that their clients were either worried (18%) or very worried (6%) about rising rates. 

"The expectation is that the growing economy will offset any damage done by raising interest rates," said Coffey. "Still, homebuyers on the ground are nervous they have enough cash to afford a home in our already high-cost state."  

About the Data Sets: 

The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months. 

A pending sale or a sale “under agreement” happens when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement,but have yet to close and be recorded as such.  MAR is the only organization, which compiles this statewide information from Multiple Listing Services each month. 

 Monthly pending (or under agreement) data and closed sales data comes from the three REALTOR®-affiliated Multiple Listing Services in Massachusetts. They are the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS® Multiple Listing Service, Inc.; and MLS Property Information Network, Inc. The data is compiled by 10K Research and Marketing, Inc. and updated each month. As a result, previous data may change after the reports have been run. 

The REALTOR® Index Methodology - The Massachusetts REALTOR® Market Confidence Index (RMCI) and Price Confidence Index (RPCI) are based on monthly responses from a random sampling of Massachusetts Association of REALTORS® members on the state of the housing market.  More specifically, the survey asks members two basic questions pertaining to the real estate business in their market area in Massachusetts. 

  • How would you describe the current housing market? 

  • What are your expectations of home prices over the next year? 

In addition to these standard questions, the survey each month includes one wildcard question that changes each month and is based on an industry hot topic. 

The RMCI is calculated in the following way.  Respondents indicate whether conditions are, or are expected to be “strong” (100 points), “moderate” (50 points), and “weak” (0 points).  The results are the average score for each question.  A score of 50 is the threshold between a “strong” and a “weak” condition.  Similarly, the question about home prices over the next year (REALTOR® Price Confidence Index) is calculated using five categories: “Rise 0-5%” (75 points), “Rise 5%+” (100 points), “Level” (50 points), “Fall 0-5%” (25 points), and “Fall >5%” (0 points). 

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.