Closed sales are up slightly but the number of single-family homes for sale remain at record monthly lows.
by Eric Berman - email@example.com - 781-839-5507
WALTHAM, Mass. – October 23, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that median price for single-family homes increased five percent from last year to $410,000. Median price for condominiums also saw a 10 percent increase to $375,450. Closed sales for single-family homes and condominiums increased year-over-year from September of 2018. This month, single-family closed sales increased less than one percent and condominiums increased almost three percent. September also had the lowest number of single-family homes for sale in the month of September since MAR began reporting the data in 2004.
September 2019 Closed Sales:
“With the median cost of a single-family home over $400,000, we’re still getting summer prices in the fall” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty Inc. in Lenox. “Typically, home prices start to come down in September compared to the summer, but strong demand and the sparse selection have kept prices where they were.”
September Inventory and Days on Market:
“While the condominiums for sale were down again, the increase in the number of new condos added to the market in September is a positive,” said Meczywor. “We need more folks who want to sell, but are reluctant to do it, to put their homes on the market to meet the buyer demand.”
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.