MAR: Expect spring ‘surge in home sellers’ in Massachusetts

by Timothy Inklebarger

December is typically a cool-down month for home sales, but this year the record sales continued through the holiday season, with single-family home sales up 21.7% to 5,860 compared to a year ago, according to the Massachusetts Association of Realtors’ Monthly Indicators Report .

Condo sales also increased by 16.4%, compared to December 2019 with 2,189 units sold.

The median price for single-family homes and condos was $479,000 (up 16.7% from 2019) and $419,000 (up 7.7% from 2019), respectively.

Inventory hit an all-time low — both for single-family homes and condos — since MAR began collecting the data in 2004, and the months supply of inventory plummeted 63.6% for single-family homes and 25% for condos.

Steve Medeiros, 2021 MAR President and Realtor at Keller Williams Realty, said in a telephone interview that he wasn’t surprised considering how well sales did in November. “If you told me this is what December would look like before covid, I would say that’s ambitious,” he said.

Medeiros said last month, Massachusetts bucked the trend of December being a slowdown month for home sales.

“Early 2021 indicators show a continued trend of growth in the market; however, low inventory and multiple offers on in-demand properties will remain as two barriers for buyers,” he said in a written statement. “We anticipate a surge in home sellers in the early spring could provide more balance to the market.”

Read More Related to This Post

Join the conversation

[gravityform id="3" title="true" description="false" ajax="true"]