Most Massachusetts home sales in an October since 2004
Buyer activity remained consistently high through the summer and pushed home sales to their highest point in any October since 2004. The lack of inventory is continuing to drive prices up, which is good for sellers, but will become problematic for buyers as it will become difficult to keep up. One positive note on the inventory front and that is the number of new listings added to the market increased over last year. If we’re to get this market back to full recovery, we need homeowners who want to sell, but have been holding out, to put their homes on the market.
Highlights from the release:
- October single-family home sales – Up 12.2% over last year. Seventh straight months of increases.
- Most October closed sales since 2004
- October Single-family median prices were UP 12.3% to $320,000. Thirteen straight months of increases.
- September condo sales UP 8.8% and median prices UP 11.3% ($295,000)
- Inventory in October Down 19.96% to 20,716 and Condominium homes available Down 26.1% to 5,582
- SF listings added to the market in October UP 10.9% over last year. (5,975 from 5,387 in 2012)
- Condo listings added to the market up 17.7% over last year. (2,153 from 1,829 in 2012) Click here to Read: October News Release