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Market Trends & Data

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Timothy Lewman
Pro Member
  • Flipper/Rehabber
  • Worcester, MA
110
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175
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Massachusetts June 2022 Single Family Housing Stats

Timothy Lewman
Pro Member
  • Flipper/Rehabber
  • Worcester, MA
Posted Jun 27 2022, 05:35

Mass Housing sales stats for May 2022: Basically more of the same, higher prices, declining sales with a slight inventory build twist. I have been waiting for an inventory build which could foreshadow a price slow down.

Median Prices: $617,750 +12.32%

Closed Sales: 4,237 -6.59%

YTD Closed Sales: 16,227 -9.98%

Inventory: 4,310 +12.50%

YTD Inventory: +3.55%

New Listings: 6,726 +5.70%

YTD New Listings: 23,934 -6.21%

Months Supply: 1 +42.86%

Cumulative Days on Market: 25 -13.79%

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Jason Turgeon
  • Realtor
  • Boston, MA
264
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236
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Jason Turgeon
  • Realtor
  • Boston, MA
Replied Jun 27 2022, 19:10

I'm in Boston. I do my real estate sales very part time, but I keep an eye on several key submarkets. I am seeing price reductions these days. Not all properties, and not huge price reductions. But 3 months ago there were absolutely zero price reductions in markets like Medford. Now there are 3-4 on some days. It definitely feels like the market is turning. Just hoping it is a slow leveling off and not the top of the roller coaster ride. 

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Tom Wagner
Pro Member
  • Real Estate Agent
  • Minneapolis
216
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331
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Tom Wagner
Pro Member
  • Real Estate Agent
  • Minneapolis
Replied Jun 28 2022, 09:40

I monitor a few specific submarkets as well, and I think pricing is tapering off in some neighborhoods while continuing to rise or hold steady in others. For example, I was very surprised to see two separate two-families in Somerville and Medford close for $100k+ above asking last week!

I also find the month over month changes more interesting than the y/y changes, particularly regarding inventory. And finally, I thought this national-level graph tells a good story of what is currently going on in the market:

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