The Massachusetts Association of REALTORS® (MAR) reported today that single-family home sales closed down in November while prices continue to be up compared to the same time last year. The condominium market also saw closed sales go down while prices were up in November.

November Closed Sales:

Single-Family November 2014 November 2013 %Change
Sales 3,560 3,817 -6.7%
Median Price $330,000 $316,000 +4.4%
  • Nine of the past 10 months have seen closed sales decrease
  • Median prices up 25 of last 26 months
Condominium November 2014 November 2013 %Change
Sales 1,342 1,494 -10.2%
Median Price $302,000 $299,000 +1.0%
  • Six of last seven months have seen closed sales decrease
  • Prices up 17 out of the last 18 months

“Historically, November is one of those months in which the only constant is that new listings tend to go down, otherwise all bets are off regarding closed sales, median prices, and inventory,” said 2014 MAR President Peter Ruffini, regional vice president at Jack Conway & Co., in Norwell. “With the economy in Massachusetts doing well and interest rates continuing to be lower than anticipated, we feel optimistic that buyer activity will remain strong and will start pushing closed home sales up through the winter.”?

Inventory and Days on Market:

 

Single-Family

 

 

November 2014

 

 

November 2013

 

 

%Change

 

 

Inventory

 

 

19,068

 

 

21,959

 

 

-13.2%

 

 

Months of Supply

 

 

4.6

 

 

5.3

 

 

-13.2%

 

 

Days on Market

 

 

101

 

 

94

 

 

+7.4%

 

 

New Listings

 

 

3,575

 

 

3,958

 

 

-9.7%

 

  • 33rd straight month of year-over-year inventory decreases
 

Condominium

 

 

November 2014

 

 

November 2013

 

 

%Change

 

 

Inventory

 

 

4,588

 

 

6,028

 

 

-23.9%

 

 

Months of Supply

 

 

2.7

 

 

3.5

 

 

-22.9%

 

 

Days on Market

 

 

80

 

 

77

 

 

+3.9%

 

 

New Listings

 

 

1,343

 

 

1,389

 

 

-3.3%

 

  • 49th 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 21,000+ 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.

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