image 22 Aug 2018

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July Sales Report


The Massachusetts Association of REALTORS® (MAR) reported today that closed sales and median prices for homes were up in July. Condo sales also ticked up over last year while the median price also went up. The number of homes for sale were down again, continuing a trend of the lowest number of homes for sale in a given month since the Association began tracking this data set in 2004.


July Closed Sales

HOMES July 2018 July 2017 % Change
Total Sales 6,153 5,956 + 3.3%
Median Price $423,250 $395,000 + 7.2%

Closed sales have been down or flat 11 out of the last 13 months.
Median prices have been up or flat for 32 out of the last 33 months.

CONDOS July 2018 July 2017 % Change
Total Sales 2,283 2,253 + 1.3%
Median Price $398,950 $370,000 + 7.8%

Closed sales have been down or flat for 9 out of the last 13 months.
Median prices have been up or flat for 32 out of the last 33 months.


"It was good to see the number homes that closed in July go up over last year," said 2018 MAR President Rita Coffey, general manager of Century 21 Tullish & Clancy in Weymouth. "We just need the number of homes for sale to go up. Prices are near all-time highs and the big question remaining is whether this is sustainable or not. Only time will tell, but the bottom line still remains, we need more housing production."


Inventory and Days on Market

HOMES July 2018 July 2017 % Change
Inventory 14,332 16,903 - 15.2%
Months of Supply 3.0 3.5 - 14.3%
Days on Market 45 51 - 11.8%
New Listings 6,874 6,444 + 6.7%

77th time in the last 78 months of year-over-year inventory decreases.
Lowest number of homes for sale in the month of July.

CONDOS July 2018 July 2017 % Change
Inventory 3,721 4,671 - 20.3%
Months of Supply 2.0 2.5 - 20.0%
Days on Market 41 46 - 10.9%
New Listings 2,299 2,265 + 1.5%

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


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 REALTORĀ® 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.