Massachusetts Real Estate and Community Update for April 2014
Inventory for single family homes in Massachusetts right now standing at 15,215, that up 3.7% from last year. A lot of the country is operating with lower inventory, but Massachusetts real estate actually saw a small increase in inventory vs last year. Unit sales dropping 4.6% to 7,037 unit sales of single-family homes, with a median price up 10% to $308,000. So, a good increase in pricing but a drop in unit sales, we’re hoping due to the weather. Days on market also dropping 13.9% to 117 days before getting a deal in place.
Over on the condominium side, we see the inventory dropping to 4,419 condominiums for sale in Massachusetts, with unit sales up 6.1% to 3,185. So contrasting with single family homes, condominiums saw an increase in sales over single-family homes, which is definitely interesting as condominiums are typically a trailing property class to single-family homes. The median sale price of a condo in Massachusetts, at the moment, is up 12.35% to $297,000, very close to the price for single-family home. Days on market is moving faster, only ninety days to getting a deal in place, down 18% year over year.
If you’d like some more insight on these numbers, or for your particular town, please call us at Keller Williams Realty, 617-797-8710, we can help you anywhere, Merrimack Valley, Boston area and beyond.
