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Massachusetts Home Sales Drop as Inventory Reaches New Low for Month of September

Massachusetts Home Sales Drop as Inventory Reaches New Low for Month of September

by Eric Berman  of Massachusetts Association of Realtors  Oct 24, 2017

September Closed Sales by the Massachusetts Association of Realtors released by Paul Yorkis MA president

WALTHAM, Mass. – October 24, 2017 – The Massachusetts Association of Realtors® (MAR) reported today that closed sales for single-family homes dropped almost six percent this September over last year, while prices rose eight percent. Year-over-year condominium sales also saw a dip, with prices rising almost four percent. Inventory reached a record low for the month of September. See the full press release here

“This is the sixth month in a row of year-over-year decreases in single-family home sales,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway. “Unfortunately, the low inventory situation coupled with rising prices are taking a toll on some buyers’ ability to compete in this market.”

“We need to see more listings come on to the market to deal with these record inventory lows,” said Yorkis. “These listings could come from new production, people moving in with their families or in accessory dwelling units— any way it comes, young and first-time home buyers especially will be grateful.”

It Could Not Get Any Better Than This for a Seller

The period we are in now could not be any better for selling a home. If you are planning on making a move South or downsizing you could capitalize on this market opportunity. Given that real estate market cycles go up and down, it would be the best time to consider a sale if you are Baby Boomer looking to downsize. Chances are you won’t even have to do anything given the lack of inventory. Even the Pepto Bismol bathrooms sell in this market.

Want to get an idea of the value of your property?

Check out www.HomeValueBoston.com

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