image 27 Dec 2018

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November Sales Report


The Massachusetts Association of REALTORS® (MAR) reported today that closed sales for both homes and condos dropped year-over-year from last November. There was a four percent hike in median price for homes and a one percent hike in condos compared to this time last year. November saw the lowest number of homes and condos for sale in the month of November since MAR began reporting the data in 2004.


November Closed Sales

HOMES November 2018 November 2017 % Change
Total Sales 4,966 5,010 - 0.9%
Median Price $395,000 $380,000 + 4.1%

Closed sales have been down or flat 9 out of the last 12 months.
Median prices have been up or flat for 35 out of the last 36 months.

CONDOS November 2018 November 2017 % Change
Total Sales 1,760 1,994 - 11.7%
Median Price $375,000 $369,900 + 1.4%

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.


"Being a home buyer in November was like going to the supermarket to prepare for your Thanksgiving meal, but when you got to the store, there was almost nothing to buy," said 2018 MAR President Rita Coffey, general manager of Century 21 Tullish & Clancy in Weymouth. "No matter how we describe it, this is a trend that will most likely continue until more homes are available for sale."


Inventory and Days on Market

HOMES November 2018 November 2017 % Change
Inventory 13,411 14,815 - 9.5%
Months of Supply 2.8 3.1 - 9.7%
Days on Market 61 66 - 7.6%
New Listings 4,217 4,239 - 0.5%

81st time in the last 82 months of year-over-year inventory decreases.
Lowest number of homes for sale in the month of November.

CONDOS November 2018 November 2017 % Change
Inventory 4,262 4,284 - 0.5%
Months of Supply 2.3 2.3 0%
Days on Market 50 48 + 4.2%
New Listings 1,677 1,704 - 1.6%

Inventory down or flat for 32 out of the last 32 months.
Lowest number of condos for sale in the month of November.


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.