WALTHAM, Mass. – December 26, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that closed sales for single-family homes and condominiums decreased year-over-year from November of 2018, with single-family closed sales decreasing almost 11 percent and condominiums decreasing nine and a half percent. Median price for single-family homes increased two percent from last year to $405,000 while median price for condominiums saw a one percent increase to $384,610. November also 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 2019 Closed Sales:
Closed sales have been down or flat for eight out of the last 12 months.
Median prices have been up or flat for 35 out of the last 36 months.
Seventh straight month of median prices at or above $400K
“Competition for homes remained strong in the fall and that pushed median prices over $400,000 for sales closing in November,” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty Inc. in Lenox. “Prices will remain high and the number of homes for sale will remain low if we can’t build more homes. Governor Baker’s Housing Choice bill is a tool that can help solve this crisis and we are happy to see that it advanced from the Housing Committee.”
November Inventory and Days on Market:
“For a lot of home sellers, the market is a bit of a paradox right now,” said Meczywor. “Demand and prices are high, so selling can be relatively quick and potentially profitable, but with historically-low inventory, these sellers are concerned about having nothing to buy after the sale. Local Realtors® can help sellers through this uncertainty and help find solutions to their housing needs once they sell.”
About the Massachusetts Association of Realtors®:
Organized in 1924, the Massachusetts Association of Realtors® is a professional trade organization with more than 25,000 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.