UPDATE — The Warren Group is reporting the same approximate trends: sales down, prices up, the Pope is Catholic, etc. … Now back to the original post. …
The Massachusetts Association of Realtors reports today that home sales were down again last month while prices continued to spike, but there was some good news for potential home buyers: The number of homes listed for sale on the market did rise in March.
That’s good news, though not spectacular news, considering the increase in new listings wasn’t all that large. Still, we’ll take it.
The Massachusetts Association of REALTORS® (MAR) reported today that while a general shortage of homes for sale pushed sales down and prices up in March, the spring market is starting to come to life. For the second straight month homeowners have added more homes to the market than the same time last year. Condominium sales and prices were both up in March.
“While the market still needs more homes for sale – including both existing homes and new construction- the increase in new listings in March is a good sign,” said 2014 MAR President Peter Ruffini, regional vice president at Jack Conway & Co., in Norwell. “With home values on an upward trend, it gives homeowners the opportunity and incentive to take advantage of the current buyer demand and list their homes for sale.”
There were 2,698 detached single-family homes sold this March, which was down 11.5 percent from the 3,048 homes sold the same time last year. On a month-to-month basis, home sales were up 27.2 percent from 2,084 homes sold this past February. A significant increase in home sales from February-to-March is typical.
The median selling price for single-family home in March was $314,063 which was up 8.3 percent from $290,000 in March 2013. This is the 18th straight monthly year-over-year increase. On a month-to-month basis, the March median selling price was up 6.5 percent from $294,950 in February.
File under: Hey, smile a little
P.S. — Did you know, or do you remember, that there was once a push to put smiley faces on Massachusetts license plates? True.