Massachusetts Q3 2017 Housing Market Report
Click here to download a pdf of this report.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
How much does Boston impact Massachusetts condo prices?
Boston has a huge impact on the Massachusetts condo market and this article quantifies that impact: Boston added over $50,000, or 15%, to the median price of a condo in Massachusetts in 2016. (more…)
Massachusetts 2016 housing market By The Numbers
The median price of a Single Family Home (SFH) in Massachusetts in 2016 rose 3% to a new high, finally passing the prior 2005 peak. The median price of a condo rose 3.5% to a new high. Sales of SFHS were a record while condo sales remain 13% below 2005 levels. The impact of Boston on MA condo prices is explored in How much does Boston impact Massachusetts condo prices?. (more…)
Massachusetts Q1 Housing Market Review
This report reviews the Massachusetts Q1 Housing Market by the Numbers, followed by a snapshot of current inventory compared with a year ago.
Median Prices and Sales
Sales of SFHs jumped sharply, not just from last year’s level, but from that of the last several years and were the highest recorded in my records going back to 2000. Condo sales were also up significantly, but are still lower than in the heady days of 2005-2007.
The median price of both SFHs and condos was within 1% of last year’s Q1 levels. Always remember that quarterly numbers can be – and frequently are – volatile, especially during the winter months. We will get a truer picture of the underlying market trends when we get the numbers for the first half of the year.
Source: MLS, Oliver Reports
Current Inventory
The median SFH price in Massachusetts is around $360,000. While overall inventory for SFHs is down 7% from last year, the decline is concentrated below $500,000.
Numbers for the condo market in the entire State are distorted by the inclusion of Boston. The vast majority of the condos for sale over $1 million are in Boston, and places like Cambridge, Brookline and Newton. While the overall decline in inventory is 6%, it is 15-19% under $350,000.
Source: MLS, Oliver Reports
If you are considering selling your home please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer.
Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
MA condo supply: is it really only 1.8 months?
The Federal Reserve’s Beige Book report in July contained the following statement: “Massachusetts currently has only 1.8 months’ supply of condominiums available, compared with 6 to 7 months’ supply in a balanced market.”
Really? Wow. As I often point out, statistics are extremely useful if you know the context and can put the numbers into perspective. The above comment, however, does not explain the period being measured. As the months of supply figure is calculated by dividing the number of units currently for sale by sales in a given period, it is necessary to know what the given period is. (more…)
Recent Comments