2020 Massachusetts Real Estate Snapshot

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Real Estate Technology

The COVID-19 pandemic has impacted the Massachusetts real estate market mainly by causing a shortage of homes for sale. Many homeowners did not want to list their homes in 2020.

Because supply was very low and demand was very high, prices increased substantially over previous years.

For example, as of the end of September 2020, Massachusetts had just 1.4 months of for-sale inventory - that's a decline of 58% from 2019.

By the 3rd quarter of 2020 the Median Home Value in Massachusetts was $446,665.

 

Home values by percentage:

Home Price Percentage
>$1,217,550 5.1%
$913,194 - $1,217,550 5.6%
$608,838 - $913,193 16.5%
$487,045 - $608,837 13.9%
$365,243 - $487,044 20.3%
$243,522 - $365,242 21.3%
$121,794 - $243,521 13.4%
60,935 - $121,793 1.9%
$0 - $60,934 2.1%

 

According o the Massachusetts Association of REALTORS®, by November 2020, sales of single-family homes increased 15.7% and sales of condominium increased 12.3% compared to 2019.

 

Looking To Purchase a Home In Massachusetts' Bristol County?

 

Attleboro, MA

North Attleboro, MA

Seekonk, MA

Taunton, MA

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Rainmaker
282,550
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

What a year!  We have a similar market market by higher prices and low inventory.

Jan 01, 2021 12:07 PM #1
Rainmaker
3,755,739
Richard Weeks
Dallas, TX
REALTOR®, Broker

Thanks for sharing your market update.  I hope you have a great year.

Jan 02, 2021 02:10 AM #2
Ambassador
3,981,295
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

We've had inventory issues all year & it doesn't look to get better any time soon. Affordability is also keeping buyers at bay. Thanks for sharing Dario & Happy New Year!

Jan 02, 2021 02:47 PM #3
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