April was another strong month for home sales in Massachusetts. According to the Massachusetts Association of Realtors April Housing Data Report, increased sales and record low inventory means the busy spring market may last well into summer.
Homebuyers continued to contend with multiple-offer situations, which are still driving sales above asking prices. The median sales price for single-family homes continued to rise, up 9% from March to $529,000. The median sales price for condominiums rose 5.5% to $485,000, according to the report.
Year over year, single-family home listings increased 70.1%, and condo listings were up 124.8%, according to the report, which also showed an 11.5% increase in single-family home sales and a 46.9% increase in condo sales.
There were 3,923 closed single-family sales in April and 6,721 new listings, compared to 3,385 closed sales and 5,804 new listings in March. April condo transactions grew to 2,109 closed sales and 3,394 new listings, compared to March’s 1,959 closed sales and 3,040 new listings.
“As anticipated, April 2021 was another strong month for home sales,” MAR President Steve Medeiros said in a press release. “While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.”