Massachusetts 2015 Housing Market Review

The Single Family (SFH) market in Massachusetts in 2015 saw a 10% increase in sales and a 3% increase in the median price, returning the latter to within 1% of the 2004 peak.

Sales
The 10% increase in 2015, all of which came in the second half of the year, took sales just above the prior peak in 2004.

Source: MLS, Oliver Reports

Median Price
The median price increased a modest 3%, taking it to within 1% of the 2005 peak.

As is quite normal, the highest prices were achieved in Q2 and Q3.

                                              Source: MLS, Oliver Reports

Summary
While it is hard to draw meaningful conclusions from numbers covering 353 cities and towns, the overall picture is of a market that has largely returned to normal.
The Massachusetts economy remains strong – GE’s decision to relocate to Boston will only help – and mortgage rates are once again close to all-time lows.
Barring geopolitical disasters, the outlook for 2016 is for a gently improving market in Massachusetts.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Read Which broker should I hire to sell my home?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

You can REGISTER to receive email alerts of new posts on the right hand side of the home page at www.OliverReports.com.

@OliverReports