Back To Blog

Spring Real Estate Market Stats

We are in the midst of our Pioneer Valley and Northampton MA area spring real estate market. Since it is widely known that more inventory of houses and condos for sale tend to become available starting in March in the Northampton, MA area -- we Realtors often find ourselves in conversations with friends, family and clients wondering "how is the market?".  To that end, I have included a blog post below from the Massachusetts Association of Realtors (MAR) with statistics to address this widely asked question. 

While it seems home sales are on the rise, inventory has continued to dwindle. This suggests that homeowners are choosing to stay put and make improvements to their existing homes, rather than selling and moving into newer homes, thus leading to less inventory available to new home buyers.
 
For you stats lovers, read on for more info about real estate sales in Massachusetts.
 
 
 

March Closed Home Sales Hit another High for the Month

by Eric Berman - eberman@marealtor.com - 781-839-5507 | Apr 26, 2016

The number of homes for sale still down despite increase in new listings 

added to the market

 

WALTHAM, Mass. - April 26, 2016 - The Massachusetts Association of Realtors® (MAR) reported today that heavy buyer activity in the first quarter pushed March closed home sales to a new high for the month. Median prices were back up after ticking down in February for the first time in nine months. Condominium sales also closed up with median prices essentially flat from 2015.

March Closed Sales:

Single-Family

March 2016

March 2015

%Change

Sales

3,452

2,801

+23.2%

Median Price

$329,505

$320,000

+3.0%

  • Most closed sales in the month of March since 2004
  • Closed sales have been up 14 out of the last 21 months
  • Median prices have been up for the 11 out of the last 12 months
 

Condominium

March 2016

March 2015

%Change

Sales

1,429

1,145

+24.8%

Median Price

$307,900

$307,000

+0.3

  • Most closed sales in the month of March since 2007
  • Closed sales have been up or flat nine of the last 13 months
  • Median prices have been up eight out of the last 12 months

"March has proved again this year that buyer activity in the first quarter of this year and the last few months of last year was very, very strong," said 2016 MAR President Annie Blatz, branch executive at Kinlin Grover Real Estate in Brewster. "We've seen a good increase in the number of new listings added to the market and it's a trend we really need to continue as were still faced with an ongoing shortage of homes."

 Inventory and Days on Market

Single-Family

March 2016

March 2015

%Change

Inventory

15,442

17,729

-12.9%

Months of Supply

3.1

4.4

-29.5%

Days on Market

117

127

-7.9%

New Listings

8,296

6,343

+30.8%

  • 50th straight month of year-over-year inventory decreases 

Condominium

March 2016

March 2015

%Change

Inventory

4,306

4,900

-12.1%

Months of Supply

2.3

3.0

-23.3%

Days on Market

85

98

-13.3%

New Listings

2,971

2,551

+16.5%

  • 63rd straight month of year-over-year inventory decreases

About the Massachusetts Association of Realtors®: 

Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 22,000+ 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.  

###

 

Add Comment

Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

Comments

  1. No comments. Be the first to comment.