Media Contact: Eric Berman - 781-839-5507 - eberman@marealtor.com

Massachusetts Home Sales Down in January

by Eric Berman - 781-839-5507 - eberman@marealtor.com | Feb 27, 2019

Inventory of single-family homes remained at record monthly lows while condominiums saw an increase

WALTHAM, Mass. – February 27, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that closed sales for both single-family homes and condominiums dropped year-over-year from last January. This month saw a three percent increase in median price for single-family homes and condominiums compared to last year. January also saw the lowest number of single-family homes for sale in the month of January since MAR began reporting the data in 2004. However, there was six percent increase in the number of condominium’s for sale in the month. 

January 2019 Closed Sales: 

Single-Family

January 2019

January 2018

%Change

Sales

3,053

3,466

-11.9%

Median Price

$379,900

$367,500

+3.4%

  • Closed sales have been down or flat eight out of the last 12 months 

  • Median prices have been up or flat for 34 out of the last 36 months 


Condominium

January 2019

January 2018

%Change

Sales

1,088

1,270

-14.3%

Median Price

$368,500

$355,000

+3.8%

  • Closed sales have been down or flat for eight out of the last 12 months 

  • Median prices have been up or flat for 34 out of the last 36 months 


“In terms of closed sales and prices, the first month of 2019 followed the trend we generally saw in 2018; sales down and prices up,” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty Inc. in Lenox. “Buyer demand continues to be strong, so as we go into the spring selling season, we need homeowners who are considering selling to take action and get their properties on the market.”  

January Inventory and Days on Market:  

Single-Family

January 2019

January 2018

%Change

Inventory

10,242

11,132

-8.0%

Months of Supply

2.2

2.3

-4.3%

Days on Market

76

72

+5.6%

New Listings

4,324

3,532

+22.4%

  • 83rd time in the last 84 months of year-over-year inventory decreases  

  • Lowest number of homes for sale in the month of January 


Condominium

January 2019

January 2018

%Change

Inventory

3,468

3,256

+6.5%

Months of Supply

1.9

1.8

+5.6%

Days on Market

63

62

+1.6%

New Listings

2,021

1,552

+30.2%

  • January 2019 was the first month in the last 34 months that inventory has gone up 

“It’s encouraging to see the number of condominiums for sale increase,” said Meczywor. “At one time, condominiums were a good first step into homeownership for first-time home buyers. With more condos available, that becomes an option again.” 

About the Massachusetts Association of Realtors®: Organized in 1924, the Massachusetts Association of Realtors® is a professional trade organization with more than 24,000 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.  

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