Summer Market Remained Strong as Massachusetts Closed Home Sales Went Up Again in August

Summer Market Remained Strong as Massachusetts Closed Home Sales Went Up Again in August

Home owners continued to put more homes on the market

WALTHAM, Mass. – September 30, 2015 – (RealEstateRama) — The Massachusetts Association of REALTORS® (MAR) reported today that the positive trend this summer was to continue as single-family home sales went up in August over nine percent compared to the same time last year. This is the third straight month of year-over-year increases in single-family home sales. The median price of single family homes was also up for the 12th time in the last 14 months. New listings added to the market were up almost 12 percent over last year, which is the biggest increase since June 2014. Both condominium closed sales and median prices were up (over four percent and three percent, respectively).

August Closed Sales:

Single-Family August 2015 August 2014 %Change
Sales 5,890 5,365 +9.8%
Median Price $365,000 $350,000 +4.3%
  • Closed sales have been up seven out of the last 14 months
  • Median prices have been up 12 out of the last 14 months
Condominium August 2015 August 2014 %Change
Sales 2,199 2,097 +4.9%
Median Price $335,000 $325,000 +3.1%
  • Closed sales have been up three of the last 10 months
  • Median prices have been up 24 out of the last 27 months

“This summer has seen some of the highest year-over-year closed sales increases in recent years due to a very active buyers market this spring,” said 2015 MAR President Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield. “Additionally, with all these new listings added to the market this month, it suggests to me that we can keep this momentum going into the fall.”

Inventory and Days on Market:

Single-Family August 2015 August 2014 %Change
Inventory 21,833 26,397 -17.3%
Months of Supply 4.9 6.6 -25.8%
Days on Market 80 87 -8.0%
New Listings 6,871 6,155 +11.6%
  • 43rd straight month of year-over-year inventory decreases
Condominium August 2015 August 2014 %Change
Inventory 4,929 6,281 -21.5%
Months of Supply 2.8 3.8 -26.3%
Days on Market 66 73 -9.6%
New Listings 2,186 1,888 +15.8%

 

  • 58th 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.

###

Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook

Previous articleSettlement Will Provide Nearly $194 Million for Cleanup Work at the Superfund Site in Bridgewater Township, New Jersey
Next articleThe Internal Audit Department released its Pavement Management, Audit 14-12