Don't Give Up!

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

Massachusetts housing stats for April should be coming out next week. The following are for March 2020. Things in March were slightly down to flat year/year for single-family homes and condominiums. Listings are down (-16%) Inventory is now 1.7 months for the entire State down (-32%) from 2019. BUT, the median price is up 6.5% over 2019. Demand for housing in MA is strong. If you are searching for a home DO NOT give up or become discouraged. If you are considering selling your home DO IT! There are lots of buyers waiting. Either way, I am ready to assist you in your Real Estate adventure. =:o)

This article is from the Massachusetts Association of Realtors®

Median Price for Closed Sales in MA Push Past $415K in March

 

WALTHAM, Mass. – April 22, 2020 The Massachusetts Association of Realtors® (MAR) reported today that, compared to the same time last year, the median price for single-family homes saw a six percent increase to $416,000 and the median price for condominiums saw a 14 percent increase to $428,500. Closed sales for single-family homes were down one percent and closed sales for condominiums were also down almost three percent in March. In addition, this month saw the lowest number of homes for sale in the month of March since MAR began reporting the data in 2004 

March 2020 Closed Sales:  

 Single-Family 

 March 2020 

 March 2019 

 % Change 

 Sales

 3,471

 3,509

 -1.1%

 Median Price

 $416,000

 $390,500

 +6.5%

  • Closed sales have been down or flat for eight out of the last 12 months.  

  • Median prices have been up or flat for 35 out of the last 36 months.  

 

 Condominium 

 March 2020 

 March 2019 

 % Change 

 Sales

 1,462

 1,503

 -2.7%

 Median Price

 $428,500

 $375,000

 +14.3%

 

  • Closed sales have been down or flat for six out of the last 12 months.  

  • Median prices have been up or flat for 32 out of the last 36 months.   


“COVID-19, while sending shockwaves through every sector of our economy, did not have a significant impact on the housing market in Massachusetts in March, as inventory remains at historic lows and prices push forward near record highs,” said 2020 MAR President Kurt Thompson, broker at Keller Williams Realty North Central in Leominster. "There is great demand for homeownership here in Massachusetts, and the continued strength we are seeing in the housing market is likely to remain a shining beacon of light during the dark days of the COVID-19 pandemic.” 

 

March 2020 Inventory and Days on Market:  

 

 Single-Family

 March 2020 

 March 2019 

 % Change 

 Inventory

 8,374

 12,486

 -32.9%

 Months of Supply 

 1.8

 2.7

 -33.3%

 Days on Market

 74

 78

 -5.1%

 New Listings

 6,061

 6,436

 -5.8%

 

  • 97th time in the last 98 months of year-over-year inventory decreases.   

  • Lowest number of homes for sale in the month of March since MAR began reporting in 2004.   

 

 Condominium

 March 2020 

 March 2019 

 % Change 

 Inventory

 3,231

 4,476

 -27.8%

 Months of Supply 

 1.7

 2.5

 -32.0%

 Days on Market

 62

 63

 -1.6%

 New Listings

 2,297

 2,742

 -16.2%

 

  • Lowest number of condominiums for sale in the month of March since MAR began reporting in 2004.   

 

About the Massachusetts Association of Realtors®:

Organized in 1924, the Massachusetts Association of Realtors® is a professional trade organization with more than 25,000+ 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.
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I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

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Rainmaker
3,440,548
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Doug... sounds a lot like my market except for the median price point... which is in the high $200,00's.

May 16, 2020 09:56 AM #1
Rainmaker
3,400,725
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Doug,  great information for us to see in the rain and for buyers and sellers  in your area.

 

May 16, 2020 11:21 AM #2
Rainmaker
1,905,113
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We were off to an amazing start in 2020 . I capped in 13 days and am at 100% until 12/1. I’ll still do fine , but will always wonder how much more we could have . We are still closed by our crazy Governor.(since 3/18 

May 16, 2020 12:06 PM #3
Rainmaker
2,133,723
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Doug Dawes - the prices seem to be holding everywhere else too.

May 16, 2020 06:17 PM #4
Rainmaker
3,552,298
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Doug. While inventory is down all other indicators are good. If sellers are ready, the time is now! Enjoy your day!

May 17, 2020 05:21 AM #5
Rainmaker
3,919,348
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Doug Dawes ,

We are seeing the same thing..home prices holding..we just need inventory! Good information to get out there for your buyers and sellers.

May 17, 2020 06:03 AM #6
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Nina Hollander 

It seems a lot of areas in the U.S> are reporting the same thing. People need housing no matter what.

May 17, 2020 07:09 AM #7
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Will Hamm I have always been interested in how the rest of the country is doing and look forward to seeing housing reports from the different areas

May 17, 2020 07:10 AM #8
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Holy Moly Michael J. Perry 13 days! That's great. Really too bad this virus has interrupted the year. Once PA is open you'll see good demand and you;ll be busier than ever

May 17, 2020 07:13 AM #9
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Prices holding is great news amid this crisis Grant Schneider 

May 17, 2020 07:13 AM #10
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

It seems many sellers are delaying listing Wayne Martin 

This could prove to be detrimental to the seller as the market could get flooded with listings and bring prices lower and Days on Market up. No better time to buy or sell than the present

May 17, 2020 07:27 AM #11
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Inventory is a killer Dorie Dillard CRS GRI ABR more to come later. Enjoy

 

May 17, 2020 07:29 AM #12
Rainmaker
4,313,411
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Doug, I do think with the virus, many buyers and sellers are more on the fence than ever.  Hope you receive many calls.

May 21, 2020 07:36 AM #13
Rainmaker
853,546
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Many Sellers are holding off Joan Cox AND the Buyers are out there in extreme competition 

May 29, 2020 07:39 AM #14
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