July 30, 2021
Michael Mahoney | Realtor® | Century 21 American Properties | 617-615-9435
The U.S. housing market continues along at speedy pace, with low interest rates and limited inventory fueling record high sales prices. May saw the median existing-home sales price exceed $350,000, a 24% increase and the largest year over-year increase since 1999, according to the National Association of REALTORS®.
Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.
New Listings were up 6.7 percent for single-family homes and 3.0 percent for condominium properties.
Closed Sales increased 27.1 percent for single-family homes and 60.4 percent for condominium properties.
The Median Sales Price was up 27.1 percent to $578,500 for single-family homes
and 25.0 percent to $500,000 for condominium properties. Months Supply of
Inventory decreased 57.1 percent for single-family units and 53.6 percent for