Updated almost 6 years ago on .
November 2019 Massachusetts Closed sales stats
Happy 2020, how about some November housing stats for Massachusetts?
The trends are still intact, not much has changed except the pace of decline in sales volume. The MAR, measures retail sales on the MLS, shows another SFH record high median price for 11/2019, $405,000, which is up 3.39% from 11/2018. Warren Group, measures all recorded sales, has the median price at $390,000, up 1.3% from 11/2018.
Sales volume is down on the MLS from 11/2018 by 9.30% at 4,504 retail sales. Warren group shows 4,615 closings, down 11.78% from a year ago.
Inventory also took a tumble in November compared to 11/2018, 11,142
homes were available for purchase, down 16.92% from 11/2018!!!
Don't
look for new listings to help the inventory problem - it was down to
3,680 or 12.73% from 11/2018.
Not surprisingly, months supply registered 2.3 months, indicating a very tight sellers market. 6 months is considered to be neutral balance of buyers/sellers.
We can look forward at the dawn of the new year but until inventory and new listings number's improve, expect more price increases as buyers compete for an ever dwindling supply of homes to purchase.