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Archive for the ‘Market Stats’ Category

Existing-Home Sales Increase 1.3% in August

September 24th, 2019 by Michael Mahoney

Existing-Home Sales Increase 1.3% in August

Total existing-home sales which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.3% from July to a seasonally adjusted annual rate of 5.49 million in August. Overall sales are up 2.6% from a year ago (5.35 million in August 2018). See the full article on the National Association of Realtors Page

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July Closed Home Sales Report for Greater Boston

August 29th, 2019 by Michael Mahoney

July Closed Home Sales Report for Greater Boston

The Massachusetts Association of Realtors released their closed sales report for July 2019.

 

“In July, the U.S. economic expansion that began in June 2009 became the Closed Sales
longest in the nation’s history, marking 121 straight months of gross domestic
product growth and surpassing the 120-month expansion from 1991 to 2001.
The average rate of growth during this expansion has been a milder 2.3 percent
per year compared to 3.6 percent during the 1990s. Although the economy
should continue to perform well for the rest of 2019, most economists see a mild
recession on the horizon.” – Massachusetts Association of Realtors July 2019

New Listings were down 7.0 percent for single-family homes and 1.0 percent for
condominium properties. Closed Sales decreased 2.3 percent for single-family
homes and 7.8 percent for condominium properties.

“We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.” Ralph McLaughlin, Deputy Chief Economist for CoreLogic

Greater Boston Real Estate Report from Massachusetts Association of Realtors

 

Norfolk County Real Estate Market Update

June 20th, 2019 by Michael Mahoney

Norfolk County Real Estate Market Update

If you want to know where the housing market area is in Norfolk County and how it compares to last year, then this is the report for you.

DRAFT IN PROGRESS

 

Pending Home Sales Up on May 2019

June 18th, 2019 by Michael Mahoney

Pending Home Sales Up on May 2019

WALTHAM, Mass. – June 12, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that the number of single-family homes put under agreement in the month of May went up six percent and the number of condominiums put under agreement went up two percent compared to this time last year. This marks 12 straight months of year-over-year increases for single-family homes. The median price for single-family homes put under agreement increased almost four percent to $420,000, while condominiums saw a seven percent increase to $415,000 compared to May of 2018.

MAY 2019 Pending Home Sales

 

 

Looking for a Boston Area Foreclosure Home Homes You can Purchase with a Small Deposit

 

 

If you want to know more about these opportunities, please schedule a 15-minute conference call with me and we can review homes in options available to you.  Please schedule your conference call here now

 

A Tale of Two Cities

June 13th, 2019 by Michael Mahoney

Tale of Two Cities and the American Dream

This is a series of posts that will highlight sales of the most expensive and least expensive homes sold in the metropolitan Boston are in the last week. My focus on homes tends to be along the 95 corridor from Dedham to Wrentham.

The goal of the post is really to show the wide range of available real estate options in the area. If you are thinking of making your first purchase, there are plenty of options to have you stop being part of the landlord’s payroll each week.

Here is this week’s most expensive and least expensive home sold in this area.

Least Expensive Home Sold: 70 Chestnut in Wrentham MA

The least expensive home was a Fannie Mae foreclosure. These are great options for developers and investors. Some of these properties can also turn out to be great buys for 1st time buyers as long as there has not been long term deferred maintenance.

70 Chestnut Street, Wrentham, MA 02093 (MLS # 72477727)

(all data current as of 10/18/2019)
Price $220,000
Beds 4
Baths 2 full, 1 half
Home size 2,778 sq ft
Lot Size 2.00 ac
Unique 4 bed, 2.5 bath Contemporary on 2 wooded acres. Features large rooms, hardwood floors, fireplace, spacious decks, walkout basement and much more. Also, this home surrounds a 13'x13' courtyard, which adds a special view from the interior rooms. Country setting, yet convenience location. Good highway access. Easy show!

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We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Michael Mahoney to contact you even if your name is on a Federal or State "Do not call List".
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

Listing provided by Tom Piantadosi, RE/MAX Town & Country

(view all details for MLS #72477727)

Most Expensive Home Sold: 78 Village Avenue in Dedham MA

This home was a classic New England Greek Revival style home.

78 Village Avenue, Dedham, MA 02026 (MLS # 72458972)

(all data current as of 10/18/2019)
Price $1,340,000
Beds 5
Baths 2 full, 1 half
Home size 3,403 sq ft
Lot Size 14,652 sqft
Precinct 1! The circa 1845 Greek Revival sits majestically two blocks from Dedham Square. The covered front door opens to a generous high ceiling hallway with detailed bay window. The original front parlor with fireplace, now a dining room, has floor to ceiling windows, and the columned divider leads to the living room with fireplace and french doors to yard. Progress from the family room with a large bay window, fireplace and bookcases into the updated expansive country kitchen with adjoining butler's pantry and generous mudroom.The second floor is accessed by front and rear stairs, and is comprised of a master suite and bath, lots of linen storage, a family bath, three additional bedrooms, and an office/exercise area. The fifth bedroom, bonus room and storage room fill the third floor. The house wraps around an extensive outdoor living area with deck, patio, and enclosed ornamental garden. The two-story barn is currently used as a garage and workshop; it could also be a home office.

To view additional details about this listing you must first register or log in.

Log In

Or Register

A password will be e-mailed to you.

We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Michael Mahoney to contact you even if your name is on a Federal or State "Do not call List".
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

Listing provided by Linda Dwinell Logan, Gibson Sotheby's International Realty

(view all details for MLS #72458972)

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May 2019 Housing Minute

June 12th, 2019 by Michael Mahoney

May 2019 Housing Minute

Pending and existing home sales declined slightly in April, while inventory continues to increase. Please watch this video which will help identify some of the national real estate market trends.

 

Pending Home Sales Down Slightly in the Northeast

June 5th, 2019 by Michael Mahoney

Pending Home Sales Down Slightly in the Northeast

WASHINGTON (May 30, 2019) – Pending home sales declined in April, a modest change from the growth seen a month before, according to the National Association of Realtors®. Only one of the four major regions – the Midwest – experienced growth, while the remaining three regions reported a drop in their respective contract activity.

The Pending Home Sales Index,* www.nar.realtor/pending-home-sales, a forward-looking indicator based on contract signings, fell 1.5% to 104.3 in April, down from 105.9 in March. Year-over-year contract signings declined 2.0%, making this the 16th straight month of annual decreases.

See the full report here

Looking for a Boston Foreclosure - KW can helpWe know it’s confusing to look at all the values and decipher the market. Michael Mahoney is a veteran agent with almost two full decades of experience behind him. He will watch the market and provide you with a complete suite of personalized homebuying or selling tools so that you can confidently make your move.  Take a look at one such example in his Ultimate Home Buyers Checklist.

Massachusetts Real Estate: What’s Happening Today?

May 16th, 2019 by Michael Mahoney

Massachusetts Real Estate: What’s Happening Today?

The quarterly report on the entire State of Massachusetts for Q1 has been released.

The amount the sellers achieved against their asking prices was down slightly in all counties with the exception of Berkshire County. 

Buyers You are Not Going Swindle Your Way In

I know some of my buyer clients will read into the report and be rubbing their hands together with a big greedy smile like a wolf eyeing a lap dog.  Buyers – The sky is not falling. Prices are still up. It’s not the case in every town and it’s going to vary town by town.

If you are the Wolf of Wall Street type, there seems to be a few more foreclosures available lately. See some Boston area foreclosures here

Please make sure you are working with an experienced Realtor who has been in shifting and emerging markets. Hint hint…

Bad purchase decisions usually show up when exiting the property.  If you don’t make a good purchase, you will pay when you sell.

Whatever you do, please don’t rely on Zestimates.

Our latest reports breaks down 3 Greater Boston counties zip code by zip code. If you own, rent or invest in real estate you will not want to miss this report. In this report, we cover Suffolk, Norfolk and Bristol County

If you want the entire state report, reach out to me.

www.RealtorMikeMahoney.com – Click here to get the full report

April Pending Home Sales from Massachusetts Association of Realtors

May 14th, 2019 by Michael Mahoney

April Pending Home Sales from Massachusetts Association of Realtors

WALTHAM, Mass. – May 8, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that the number of single-family homes put under agreement in the month of April went up almost 15 percent and the number of condominiums put under agreement went up almost 12 percent compared to this time last year. This marks 12 straight months of year-over-year increases for single-family homes. The median price for single-family homes put under agreement had a two percent increase to $395,000, while condominiums had less than a one percent decrease to $375,000 compared to April of 2018.

Download the full Press Release from The Massachusetts Association of Realtors here

 

 

 

March Boston Housing Market

May 8th, 2019 by Michael Mahoney

March Boston Housing Market

Boston, MA, — Sales of single-family homes saw a boost, while condominium sales softened in March in Greater Boston amid an increased inventory and appreciating home values, according to data issued today from the Greater Boston Association of REALTORS® (GBAR).

 

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Michael Mahoney | Greater Boston Realtor with EXP Realty

Some of the area Michael Mahoney Covers Includes:
AshlandAttleboro Bellingham Boston Canton Dedham Dorchester Dover Foxboro Framingham
Franklin Holliston Hopedale  Hyde Park Mattapan Medfield Medway Milford Millis Milton Natick
Norfolk North Attleboro  Norwood Plainville
Quincy Randolph Roslindale Sharon Sherborn Stoughton Walpole Wellesley
West Roxbury Westwood Wrentham

 Get the value of Any Boston Area Property Now @ www.HomeValueBoston.com

March 2019 Report on Greater Boston Residential Real Estate Activity

May 7th, 2019 by Michael Mahoney

March 2019 Report on Greater Boston Residential Real Estate Activity

Michael Mahoney, Realtor®
eXp Realty
617-615-9435
mike@mmahoney.com | www.RealtorMikeMahoney.com

Boston Real Estate Market

The median sales price of single-family homes continued to increase last month to a new record-high for the month of March at $595,000. This reflects a 3.4 percent increase in median sales price from March 2018 of $575,500. The condo market experienced a very modest 0.2 percent increase in median sales price, increasing to $550,00 last month, up from $549,000 in March 2018.

 

“We’ve yet to see these record-high prices quell any buyer enthusiasm, and sellers should take advantage of
these higher price points and growing buyer population,” added Major. “With inventory levels as they are, we
should expect a robust spring market, as we’ve also seen an influx of pending sales which we can anticipate
will close in April and May.” James Major – Greater Boston Association of Realtors

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Download the Report Now

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Detached Single-Family Homes Sold in Greater Boston

The 793 homes sold it was the sixth highest sales volume for the month and was a 6.9 percent increase from the 742 homes sold in March 2018.
The median sales price reached a record high for the month of March at $595,000, as is rose 3.4 percent from the March 2018 median sales price of $575,500.

Condominiums Sold in Greater Boston

With 691 condos sold, it was the tenth most active March on record in Greater Boston, and a 9.9 percent decrease in sales from the 767 units sold in March 2018. The median sales price of condos experienced a very modest increase, up 0.2 percent from $549,000 in March 2018 to $550,000 this year, a new record-high for the month.

Multi-Family Homes Sold in Greater Boston

This month, there were 150 multi-family units sold in Greater Boston,which reflects a 1.3 percent increase in sales volume from the 148 multifamily units sold in March 2018.

Search All Homes For Sale
My eXp Realty Team in Boston is Hiring 
HomesinBostonMass – See it all here
Free List of Foreclosed Homes For Sale
Get the Equity Position of your House Now – Equitywatch
Boston Listings Search
What is Your Home Worth?
Michael Mahoney – Youtube Channel


Michael Mahoney Realtor on Zillow 

 

More @ my About Me Profile

 

My profile on Linkedin

Michael Mahoney
Realtor
eXp Realty
Serving Greater Boston
617-615-9435

 

     

Realtor Michael Mahoney on Facebook

 

Check out eXp Realty for yourself. Interested? Call me I will give you a webinar overview

Agents Are Shareholders at eXp Realty
No desk fees. No royalty fees. No franchise fees. Keep 80-100% of your commissions. eXp Realty also offers every agent the unique opportunity to become a shareholder in their own company, and celebrate the company’s financial success. See more here

Michael Mahoney | Greater Boston Realtor with EXP Realty

Some of the area Michael Mahoney Covers Includes:
AshlandAttleboro Bellingham Boston Canton Dedham Dorchester Dover Foxboro Framingham
Franklin Holliston Hopedale  Hyde Park Mattapan Medfield Medway Milford Millis Milton Natick
Norfolk North Attleboro  Norwood Plainville
Quincy Randolph Roslindale Sharon Sherborn Stoughton Walpole Wellesley
West Roxbury Westwood Wrentham

 Get the value of Any Boston Area Property Now @ www.HomeValueBoston.com

Pending Sales in April Coming Back After March Drop

May 1st, 2019 by Michael Mahoney

Pending Home Sales Back on Track Nationally

Existing Home Sales April 2019 National Association of Realtors

Existing Home Sales April 2019 National Association of Realtors – Click to see large image

The National Association of Realtors announced yesterday that the April pending home sales is back after a slip in March.   The following is the press release from the National Association of Realtors on April 30th.

Pending home sales were back on track last month, reversing course after last month’s drop. Three of the four major regions saw an uptick in contract signs in March, the National Association of REALTORS® reported Tuesday.

NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.8 percent last month over February, and contract signings reached a reading of 105.8. Still, contract signings are down 1.2 percent year over year, marking the 15th consecutive month of annual decreases.

Pending home sales have been volatile in recent months. However, NAR’s Chief Economist Lawrence Yun predicts the numbers to begin climbing more consistently.

“We are seeing a positive sentiment from consumers about homebuying, as mortgage applications have been steadily increasing and mortgage rates are extremely favorable,” Yun says.

Sales activity in the West has risen at a relatively stable rate for the past five consecutive months. The region saw a “significant spike” in activity in March, Yun notes. “Despite some affordability issues in the West, the numbers indicate that there is a reason for optimism,” he says. “Inventory has increased too. These are great conditions for the region.”

But overall, sales activity continues to “under perform” across the country, says Yun.

“In the year 2000, we had 5 million home sales,” he says. “Today, we are close to that same number, but there are 50 million more people in the country. There is a pent-up demand in the market, and we should see a better performing market in the coming quarters and years.

Press release from National Association of Realtors

Lawrence Yun NAR Chief Economist on March 2019

April 30th, 2019 by Michael Mahoney

National Association of Realtors Existing Home Sales Report

Click the Image Above to See Full Size

Existing-Home Sales Slide 4.9% in March

The content below is furnished by the National Association of Realtors

Lawrence Yun, NAR’s chief economist, anticipated waning in the numbers for March. “It is not surprising to see a retreat after a powerful surge in sales in the prior month. Still, current sales activity is underperforming in relation to the strength in the jobs markets. The impact of lower mortgage rates has not yet been fully realized.”

The median existing-home price2 for all housing types in March was $259,400, up 3.8% from March 2018 ($249,800). March’s price increase marks the 85th straight month of year-over-year gains.

Total housing inventory3 at the end of March increased to 1.68 million, up from 1.63 million existing homes available for sale in February and a 2.4% increase from 1.64 million a year ago. Unsold inventory is at a 3.9-month supply at the current sales pace, up from 3.6 months in February and up from 3.6 months in March 2018.

“Further increases in inventory are highly desirable to keep home prices in check,” says Yun. “The sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”

Properties remained on the market for an average of 36 days in March, down from 44 days in February but up from 30 days a year ago. Forty-seven percent of homes sold in March were on the market for less than a month.

Yun says tax policy changes will likely add further complications to the housing sector. “The lower-end market is hot while the upper-end market is not. The expensive home market will experience challenges due to the curtailment of tax deductions of mortgage interest payments and property taxes.”

You can listen to the interview with NAR’s chief economist

NAR - Existing Home Sales Report MARCH 2019

NAR Home Sales March Report Click Here to Play

Greater Boston Real Estate Update by Realtor Michael Mahoney

April 28th, 2019 by Michael Mahoney

Greater Boston Real Estate Report Update by Realtor Michael Mahoney
March 2019

The Massachusetts Association of Realtors® (MAR) reported today that closed sales for single-family homes increased year-over-year from last March while condominium closed sales saw a decrease. This month saw a six percent increase in median price for single-family homes and a five percent decrease in median price for condominiums compared to last year. March also saw the lowest number of single-family homes for sale in the month of March since MAR began reporting the data in 2004. However, this is the third month in a row of year-over year condominium inventory increases.

A review of Boston Real Estate by Realtor Michael Mahoney of eXp Realty

Click image to open full size report

Michael Mahoney
Realtor
eXp Realty
617-615-9435
mike@mmahoney.com

Existing-Home Sales Slide 4.9% in March

April 23rd, 2019 by Michael Mahoney

Existing-Home Sales Slide 4.9% in March

Existing-home sales fell 4.9 percent in March, with all four major regions of the U.S. seeing a decline, the National Association of REALTORS® reported Monday. The drop follows a surge in sales the previous month. “It is not surprising to see a retreat after a powerful surge in sales in the prior month,” says NAR Chief Economist Lawrence Yun. “Still, current sales activity is under performing in relation to the strength in the job markets. The impact of lower mortgage rates has not yet been fully realized.

 

Total existing-home sales—completed transactions for single-family homes, townhomes, condos, and co-ops—dropped 4.9 percent from February to a seasonally adjusted annual rate of 5.21 million in March. Sales are down 5.4 percent from a year ago, NAR’s data shows.

exiting home sales report march 2019

Yun notes that sluggish housing inventories and tax policy changes may also impact housing. “The lower-end market is hot while the upper-end market is not,” Yun says. “The expensive home market will experience challenges due to the curtailment of tax deductions of mortgage interest payments and property taxes.”

Here’s a closer look at some key indicators from March home sales, according to NAR’s latest housing report.

  • Home prices: The median existing-home price was $259,400 in March, up 3.8 percent from a year ago.
  • Days on the market: Forty-seven percent of homes sold in March were on the market for less than a month. Properties remained on the market an average of 36 days in March, up from 30 days a year ago.
  • Housing inventories: At the end of March, inventories rose to 1.68 million, a 2.4 percent increase from a year ago. Unsold inventory is at a 3.9-month supply at the current sales pace. “Further increases in inventory are highly desirable to keep home prices in check,” says Yun. “The sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”
  • Cash sales: Deals in which the buyer paid cash comprised 21 percent of all transactions in March, up from 20 percent a year ago. Individual investors tend to account for the bulk of cash sales. They purchased 18 percent of homes in March, up from 16 percent a year ago.
  • Distressed sales: Foreclosures and short sales represented 3 percent of sales in March, down from 4 percent a year ago. One percent of sales last month were short sales.

Dr. Yun makes a comment above about low mortgage rates. He is absolutely correct about rates. See these two articles below:

Mortgage Rates Rise Again, But Remain Below Yearly Lows

New Mortgage Purchases Highest in 9 Years

Original Article from National Association of Realtors

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I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

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This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

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We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

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