image 27 Feb 2019

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January Sales Report


The Massachusetts Association of REALTORS® (MAR) reported today that closed sales for both homes and condos dropped year-over-year from last January. This month saw a three percent increase in median price for homes and condos compared to last year. January also saw the lowest number of 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 condos for sale in the month.


January Closed Sales

HOMES January 2019 January 2018 % Change
Total Sales 3,053 3,466 - 11.9%
Median Price $379,900 $367,500 + 3.4%

Closed sales have been down or flat 8 out of the last 12 months.
Median prices have been up or flat for 34 out of the last 36 months.

CONDOS January 2019 January 2018 % Change
Total Sales 1,088 1,270 - 14.3%
Median Price $368,500 $355,000 + 3.8%

Closed sales have been down or flat for 8 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, associate broker at Roberts & Associates Realty in Lenox, MA. "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

HOMES 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.

CONDOS 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. "t 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.


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.