The Fall Market Started Strong as Massachusetts Closed Home Sales Went Up Again in September

by Eric Berman - eberman@marealtor.com - (781) 839-5507 | Oct 27, 2015

Second largest year-over-year increase in closed homes sales this year

WALTHAM, Mass. – October 27, 2015 – The Massachusetts Association of REALTORS® (MAR) reported today that the fall home buying market started strong as closed homes sales went up in September over 17 percent compared to the same time last year. This is the fourth straight month of year-over-year increases in single-family home sales, and the second largest year-over-year increase in closed home sales this year (the largest was in July). Condominium sales closed up at almost nine percent, while median prices remained flat since this time last year.

September Closed Sales:

Single-Family

September 2015

September 2014

%Change

Sales

5,109

4,332

+17.9%

Median Price

$340,500

$325,000

+4.8%

  • Closed sales have been up eight out of the last 15 months
  • Median prices have been up 13 out of the last 15 months

Condominium

September 2015

September 2014

%Change

Sales

1,896

1,745

+8.7%

Median Price

$305,000

$305,000

0.0%

  • Closed sales have been up four of the last 11 months
“An active summer real estate market has become an active fall real estate market as buyers and sellers were very busy in September,” said 2015 MAR President Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield. “We haven’t seen an indication from buyer clients yet that their desire to own a home has cooled off as we moved into the fall. This momentum should continue for at least the next few months.”

Inventory and Days on Market:

Single-Family

September 2015

September 2014

%Change

Inventory

22,342

26,807

-16.7%

Months of Supply

4.9

6.7

-26.9%

Days on Market

88

95

-7.4%

New Listings

7,719

7,303

+5.7%

  • 44th straight month of year-over-year inventory decreases

Condominium

September 2015

September 2014

%Change

Inventory

5,395

6,415

-15.9%

Months of Supply

3.1

3.9

-20.5%

Days on Market

72

75

-4.0%

New Listings

2,755

2,484

+10.9%

  • 59th straight month of year-over-year inventory decreases

About the Massachusetts Association of REALTORS®:

Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 21,000+ 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.