Mass Home Prices Up As Sales Decrease

The Mass Association of Realtors released today home sale for February 2013. MAR reported that the number of home sales for single family homes were down due to the lack of available inventory, while condo sales were up. The medium home price for single family and condos were up on a year-over-year basis.

MAR President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree, said “Demand has outpaced supply with plenty of motivated buyers, but not enough homes for sale to meet the need. If inventory continues to go down, there is a good chance we will see sales decline as well which is not what the market needs.”

 

Units sold in Feb 2013 Units sold in Feb 2012 Percent Change Units Sold in Jan 2013 Single Family House 2,168 2,282 -5.0% 2,724 Condos 861 847 +1.7 1,010

 

Median Home Price Feb 2013 Median Home Price Feb 2012 Percent Change Single Family $278,000 $255,250 +8.9% Condos $257,500 $228,000 +12.9% Days on Market Feb 2013 Days on Market Feb 2012 Inventory Feb 2013 Inventory Feb 2012 Monthly Supply(In Months) Feb 2013 Monthly Supply(In Months) Feb 2012 Single Family 126 130 18,820 26,186 4.8 8.1 Condos 109 124 6,170 9,161 4.1 7.4

The enitire article can be read here.

Paul Weston is a licensed Real Estate Broker in Massachusetts, focusing on the Greater Boston area.

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Website, including contact information: www.liveinmalden.com