MA Real Estate Market Update | April-09
The Massachusetts Association of Realtors (a.k.a. MAR) released their April 2009 housing market data this week.
The statewide numbers for April break down as follows:
MA Single Family Home Sales |
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| March 2009 | April 2009 | % change |
| 2,234 | 2,448 | 9.6% |
MA Single Family Median Price |
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| March 2009 | April 2009 | % change |
| $255,000 | $275,000 | 7.8% |
MA Condominium Sales |
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| March 2009 | April 2009 | % change |
| 877 | 916 | 4.4% |
MA Condominium Median Price |
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| March 2009 | April 2009 | % change |
| $224,500 | $236,000 | 5.1% |
This marks the first time I’ve been able to report entirely positive month to month percentage changes since I started these market reports! This is also the third month in a row that the median selling price and the number of condos sold has increased and the second month in a row that the median selling price for single families has increased as well. This is great news and we saw it coming awhile ago!
There is even more good news to add to it. MAR is now tracking pending home sales (homes that are under agreement but have not yet closed) as well and this makes me very happy! Why? It is a much better indication of what is going on out there today and makes it even easier to anticipate and predict the trends. We have been seeing properties quickly going under agreement for a couple of months now and if you only look at them once they are sold you get half the picture, way too late. Deals are taking a bit longer to close these days and we are also seeing places come back on after a certain amount of time due to financing falling through. I think it also has something to do with timing, we are working predominantly with first time home buyers right now and I can think of 5 of them off the top of my head that are under agreement or about to be but not looking to close until August when their leases are up. Can’t wait to see the numbers of solds once August hits! Anyway, according to the MAR report the number of single family homes going under agreement in April increased 20.7% and the number of condos went up 23.9% as compared to March.
Downloads:
MA Real Estate Market Report Apr-2009 (35.4 KiB, 271 hits)
Past Massachusetts Real Estate Market Reports:
MA Real Estate Market Update | Mar-09
MA Real Estate Market Update | Feb-09
MA Real Estate Market Update | Jan-09
Hi, I'm Jake...and that's my dog. By day I'm Executive Director of Business Development at Barrett & Company Real Estate. By night I am part geek, struggling musician and frustrated writer. I started this blog mainly to learn WordPress, work on my design and writing skills, and showcase some folks with all kinds of talents and great stuff to say. (Read the long version if you dare) and please introduce yourself over on my Google+ Profile!
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