Inventory of single-family homes remained at record monthly lows while condominiums increased for the second straight month
by Eric Berman - email@example.com - 781-839-5507
WALTHAM, Mass. – March 27, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that closed sales for both single-family homes and condominiums increased year-over-year from last February. This month saw a seven percent increase in median price for single-family homes and a three percent decrease in median price for condominiums compared to last year. February also saw the lowest number of single-family homes for sale in the month of February since MAR began reporting the data in 2004. However, this is the second month in a row of year-over year condominium inventory increases.
February 2019 Closed Sales:
“The demand for single-family homes once again pushed prices higher in February,” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty Inc. in Lenox. “It’s nice to see condo sales up and prices starting to moderate and giving more homebuyers the opportunity to get on the homeownership ladder.”
February Inventory and Days on Market:
“It’s a positive sign that we’ve seen an increase in the number of condominiums for sale over last year” said Meczywor. “We still need to support an increase in the production of all housing types to meet current and future demand, which will keep our economy vibrant and strong.”
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.
Editors and reporters: Please note that the term Realtor® is properly spelled with an initial capital “R”, per the Associated Press Stylebook.