Early Spring Buying Season Pushed April Home Sales to a New High for the Month

by Eric Berman - eberman@marealtor.com - 781-839-5507 | May 24, 2016

Median prices had biggest year-over-year increase since March 2014

WALTHAM, Mass. – May 24, 2016 – The Massachusetts Association of Realtors® (MAR) reported today that heavy ongoing buyer activity earlier in the year once again pushed closed home sales to a new high for the month. Median prices had their biggest year-over-year increases in the past 26 months. Condominium sales also closed higher with median prices up close to eight percent from 2015.

April Closed Sales:

Single-Family

April 2016

April 2015

%Change

Sales

4,002

3,177

+26.0%

Median Price

$350,000

$325,000

+7.7%

  • Most closed sales in the month of April since 2004
  • Closed sales have been up 15 out of the last 22 months
  • Median prices have been up for the 12 out of the last 13 months

Condominium

April 2016

April 2015

%Change

Sales

1,575

1,404

+12.2%

Median Price

$329,000

$305,000

+7.9%

  • Closed sales have been up or flat 10 of the last 14 months
  • Median prices have been up nine out of the last 13 months

 

“Except for a few cold days, the spring buying season essentially started in January,” said 2016 MAR President Annie Blatz, branch executive at Kinlin Grover Real Estate in Brewster. “All this early activity pushed closed sales to a new high for the month of April and prices followed.”

Inventory and Days on Market:

Single-Family

April 2016

April 2015

%Change

Inventory

16,382

20,858

-21.5%

Months of Supply

3.3

5.1

-35.3%

Days on Market

109

126

-13.5%

New Listings

8,526

9,949

-14.3%

  • 51st straight month of year-over-year inventory decreases
  • New listings added to the market down for the first time in 12 months

 

Condominium

April 2016

April 2015

%Change

Inventory

4,336

5,587

-22.4%

Months of Supply

2.3

3.4

-32.4%

Days on Market

76

89

-14.6%

New Listings

2,950

3,500

-15.7%

  • 64th straight month of year-over-year inventory decreases
  • New listings added to the market down for the first time in 12 months

 

 About the Massachusetts Association of Realtors®:

Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 22,000+ 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.