image 26 Sep 2018

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August Sales Report


Kusska, ShutterStock


The Massachusetts Association of REALTORS® (MAR) reported today that closed sales for both homes and condos remained essentially flat in August. The median price for both categories increased year-over-year. August saw the lowest number of homes and condominiums for sale in the month of August since MAR began reporting the data since 2004.


August Closed Sales

HOMES August 2018 August 2017 % Change
Total Sales 6,368 6,424 - 0.9%
Median Price $418,200 $392,000 + 6.7%

Closed sales have been down or flat 10 out of the last 12 months.
Median prices have been up or flat for 33 out of the last 34 months.

CONDOS August 2018 August 2017 % Change
Total Sales 2,411 2,394 + 0.7%
Median Price $385,000 $349,000 + 10.3%

Closed sales have been down or flat for 6 out of the last 12 months.
Median prices have been up or flat for 33 out of the last 34 months.


"For the most part, we saw the same story of rising prices and low inventory in August. New listings came onto the market in August, but we’ll need other sources of inventory to truly deal with this deficit" said 2018 MAR President Rita Coffey, general manager of Century 21 Tullish & Clancy in Weymouth. "Homes that closed in August were the final sales of the late spring market and we’re not surprised they’re flat after being up in July."


Inventory and Days on Market

HOMES August 2018 August 2017 % Change
Inventory 14,597 16,781 - 13.0%
Months of Supply 3.0 3.5 - 14.3%
Days on Market 49 55 - 10.9%
New Listings 6,784 6,565 + 3.3%

78th time in the last 79 months of year-over-year inventory decreases.
Lowest number of homes for sale in the month of August.

CONDOS August 2018 August 2017 % Change
Inventory 3,767 4,519 - 16.6%
Months of Supply 2.0 2.5 - 20.0%
Days on Market 43 47 - 8.5%
New Listings 2,328 2,139 + 8.8%

Inventory down or flat for 30 out of the last 31 months.
Lowest number of condos for sale in the month of August.


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.