2009 Review of Massachusetts Housing
January 26th, 2010
The Massachusetts Association of Realtors released the year end numbers for Massachusetts this morning.
Statewide the single family home sales increased 4.1% over 2008.
Single family median selling prices fell 6.8% compared to 2008, falling from $311,000 to $290,000.
MAR separates out these reports into “regions”. Metrowest area of Massachusetts falls within the region of Greater Boston. This region saw the following results:
- A 2.6% increase in sales over 2008
- Median prices declined 3.6% compared to 2008
- Median price is $434,000 in this region
Condominium sales statewide also increased slightly compared to 2008. From 15,039 to 15,361, a 2.1% increase.
Median selling prices for condos fell greater than single family homes, with a statewide decline of 7.2%. Our Greater Boston region had condos faring better than the state averages with only a 5.4% decline for the area. The median selling price for a condo in Greater Boston is $330,000.
For the full press release from MAR and podcast review of the marketplace, click here.
One other newsworthy point with this review is regarding inventory in this marketplace. December 2009 supplies of single family homes and condos were at its lowest level since December 2001. The December peak was in 2006. This is the 21st straight month that inventory has gone down compared to the year before for both homes and condos.
Ed Daniels is with Re/Max Executive Realty of Hopkinton MA. A Realtor for 12 years, Ed can be reached at 508-341-7880 for any additional questions about the housing market.
Categories: Market Conditions, Real Estate
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