image 23 May 2018

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April Sales Report

Felix Mizioznikov, ShutterStock


The Massachusetts Association of REALTORS® (MAR) reported today that closed sales for homes ticked down in April while the median price went up almost seven percent. Condo sales rose over last year while the median price rose 10 percent. The number of single-family homes for sale is back over the 10,000 mark after four months straight of unprecedented low inventory.


April Closed Sales

HOMES April 2018 April 2017 % Change
Total Sales 3,783 3,798 - 0.4%
Median Price $385,000 $360,000 + 6.9%

Closed sales have been down or flat 10 out of the last 12 months.
Median prices have been up or flat for 29 out of the last 30 months.

CONDOS April 2018 April 2017 % Change
Total Sales 1,678 1,484 + 13.1%
Median Price $379,450 $345,000 + 10.0%

Closed sales have been up or flat for 6 out of the last 12 months.
Median prices have been up or flat for 26 out of the last 30 months.


"The spring market is in full swing, despite single-family home sales dipping slightly below last year," said 2018 MAR President Rita Coffey, general manager of Century 21 Tullish & Clancy in Weymouth. "This competitive market is driving prices up, but determined buyers are still making offers and finding their new home."


Inventory and Days on Market

HOMES April 2018 April 2017 % Change
Inventory 11,245 15,099 - 25.5%
Months of Supply 2.3 3.2 - 28.1%
Days on Market 67 83 - 19.3%
New Listings 8,143 7,684 + 6.0%

74th time in the last 75 months of year-over-year inventory decreases.
Lowest number of homes for sale in the month of April.

CONDOS April 2018 April 2017 % Change
Inventory 3,489 4,348 - 19.8%
Months of Supply 1.8 2.4 - 25.0%
Days on Market 50 61 - 18.0%
New Listings 3,153 2,665 + 18.3%

Inventory down or flat for 29 out of the last 30 months.
Lowest number of condos for sale in the month of April.


"You can tell it’s officially spring when new listings start to pour into the market," said Coffey. "Still, buyer demand is so strong that new listings are only part of the solution. We need new construction to really satisfy our inventory problem. "


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.


Editors and reporters: Please note that the term REALTOR® is properly spelled with capitalized letters and the registered trademark symbol, per the Associated Press Stylebook.