inception-app-prod/YzIxMDEyODUtY2I3NC00OWRhLTk5OTEtNjgyZTI2MGFmZDBi/content/2021/04/BlackLogo.png
Serving CT, MA, NH, NY, & RI
  • Home
  • Owners
  • Agents
  • News & Blog
  • Careers
(774) 357-5240
Sign In
Sign Up
inception-app-prod/YzIxMDEyODUtY2I3NC00OWRhLTk5OTEtNjgyZTI2MGFmZDBi/content/2021/04/BlackLogo.png
Serving CT, MA, NH, NY, & RI
  • Home
  • Owners
  • Agents
  • News & Blog
  • Careers
inception-app-prod/YzIxMDEyODUtY2I3NC00OWRhLTk5OTEtNjgyZTI2MGFmZDBi/content/2021/04/BlackLogo.png
Serving CT, MA, NH, NY, & RI
inception-app-prod/YzIxMDEyODUtY2I3NC00OWRhLTk5OTEtNjgyZTI2MGFmZDBi/content/2018/10/Boston-common-public-gardens-fall-copy.jpg

Home Sales Fall Locally and Statewide While Prices Hold

inception-app-prod/YzIxMDEyODUtY2I3NC00OWRhLTk5OTEtNjgyZTI2MGFmZDBi/logo/2019/10/blue-logo.png
Clockhouse Realty, Inc. ,10/20/2018

Home sales reports from state and local Realtor associations concluded that the markets of both Boston and Massachusetts in general underperformed on sheer sales volume, although prices remained strong.

Last month, single-family sales in the Greater Boston area were 12.5 percent below Sept. 2017 levels, while condominium sales fell by 15.2 percent annually. However, median prices for both property types grew yet again to record highs, to just under $600,000 for detached homes and $570,000 for condos, according to the Greater Boston Association of Realtors.

The rest of the state saw similar trends. The Massachusetts Association of Realtors’ September report found a 9.7 percent decrease in total sales from last year. Meanwhile, the median sales price increased 4 percent to $390,000. MAR noted that Sept. 2018 set a new record for the lowest number of active listings statewide since it began reporting the data in 2004. Single-family for-sale inventory shrank 9 percent to just under 16,000, while condo inventory fell by 8.6 percent to 4,500. The number of new listings, however, did increase marginally for both property types, which comes as a good omen to MAR President Rita Coffey.

“Positive year-over-year increases in new listings coming onto the market is always a positive, but we’ll need more changes to truly deal with the inventory shortage,” said Coffey in a press release.

Home sales posted losses at the national level in September as well, according to the National Association of Realtors. Existing home sales were down 4.1 percent annually nationwide, while the median sales price grew 4.2 percent over a year ago.

In a separate MAR report, Realtors around the state still reported an optimistic outlook last month despite sluggish sales in some markets. Price growth and stability under contract was one factor here — nearly three-quarters of Realtors surveyed by MAR last month said their listings were being appraised at the agreed-upon price. Year-to-date, GBAR reported 99.8 percent of homes sold within the Boston area closed at their original price. That’s despite the current sales market and the low-inventory climate.

“We’ve asked this question for several years now and the overwhelming majority have said that appraisals are coming in as expected,” said Coffey. “It is encouraging that the appraisal process is working and not negatively impacting the market.”

Courtesy of Boston Agent Magazine

Print Details
Previous post
Next post
How To Help Your Adult Kid Buy: Mom And Dad Advice
Down Payment Saving Delays Homeownership

Contact Us

SEND
Submitting
Succes! Your message was sent!
Oops! Error occurred.

Search listings

Enter city, zip, neighborhood, address…
Loading in progress…
No results found
Type in anything you’re looking for
ABR
EHO
EPRO
GRI
SRS
ABR
EHO
EPRO
GRI
SRS

Website Page Links

  • Home
  • Owners
  • Agents
  • News & Blog
  • Careers

Fair Housing Links

  • Federal Fair Housing Notice
  • CT Fair Housing Notice
  • MA Fair Housing Notice
  • NH Fair Housing Notice
  • NY Fair Housing Notice
  • NY Fair Housing Disclosure Form
  • RI Fair Housing Notice

Corporate Headquarters

  • HQ – 1089 County St. #174, Somerset, MA
  • CT – 175 Capital Blvd. #4, Rocky Hill, CT
  • NY – 80 Broad St. #5, New York, NY
  • Accessibility
  • DMCA Compliance
  • NY Operating Procedures
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again
Send
Succes! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link