September 2014 Massachusetts Monthly Housing Report

Massachusetts Monthly Housing Report – September 2014

Single-Family Houses

Detached single-family homes declined in September dropping a total of 8.2% from September of 2013. Detached single-family homes also dropped on a month to month basis with 1,286 homes sold in the previous month of August causing a 34.4% drop in sales.

There is currently a shortage in single-family listings compared to the demand making the Massachusetts real estate market a sellers market as a whole.

Despite the drop in sales, the real estate market in Massachusetts and the Greater Boston Area is still looking healthy.

CondominiumsMap of the state of Massachusetts

Sales on Condos in Massachusetts have also dropped. There were a total of 807 condominium sales for the month of September 2014 dropping a total of 9% over the last 12 months. However, the median selling price has increased by 5% over the last 12 months to $430,000 in Massachusetts.

Multi-Family Houses

The number of multi-family listings has also decreased year to date by 18.3% from 652 multi-family listings in September of 2013 to 533 multi-family listings in 2014. However, similar to the categories above, the median sales price has risen 13.4% year to date from a median sales price of $449,900 in September 2013 to $510,000 in September 2014.

A breif look into Boston 2 family properties shows that closed sales have gone down by 17.6%, at the same time the median sales price has gone up by 18.9% indicating that there is more demand than supply (listings).

Massachusetts Monthly Housing Report Overview

With the decrease in listings for each category of single-family homes, condominiums, and multi-family houses and the increase in the median sales price for each category indicates a sellers market across the board for each category across the state of Massachusetts. This may vary from town to town or region to region as this is a general state wide Massachusetts monthly housing report for September of 2014.

The real estate market in Massachusetts over all is back to around the 2005 numbers which was the height of the market.

To view homes for sale/rent in Massachusetts, click here

DRW Realty LLC
Boston, MA
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