Median home prices and sales increased in Massachusetts year over year in January, according to a new report from the Massachusetts Association of Realtors.
“Buyers continue to come out in force and make offers on homes in Massachusetts this winter,” said 2018 MAR President Rita Coffey. “This demand, in combination with historically-low inventory, only pushes prices higher. This is why we continue to support legislation that will produce more housing for all types of buyers.”
There were 3,393 home sales last month, up 5.5 percent from January 2017’s total of 3,217, while the median price increased 4.2 to $369,900 over last year, according to MAR.
The surges in both sales and prices also drove up the Realtor confidence index 7 percent from 69.63 last year to 74.52 in January. Realtors statewide reported that the new U.S. tax law has had a neutral impact on their clients’ decision to buy or sell their homes, MAR reported.