In December 2023, The Massachusetts Association of Realtors (MAR) saw the lowest recorded number of single-family homes and condominiums for sale in a given month in Massachusetts since it began reporting monthly housing date in 2004. Additional data provided by MAR showed that "the median sales price for single-family homes increased by 6.9% to $567,500 and by 15.4% to $525,000 for condominiums" when compared with December 2022. The number of new single-family homes listed decreased by 4.8% and by 7.8% for condominiums, and "closed sales decreased by 21% for single-family homes and 16.5% for condominiums."
National trends show that the streak of sales declines has finally broken and MAR President Amy Wallick says they "are anticipating existing home sales will follow the national trend and pick up in months ahead."
Looking closer at Franklin County's December 2023 Sales Report, we see that sales of single-family homes were up 37.5% and median price went up 14.9%
, when compared with December 2022. The inventory of available properties decreased 28% from 93 homes for sale in December 2022 to 67 homes for sale in December 2023. There was not a big shift in number of days homes were on the market, with an increase of 2.4 percent between December 2022 and December 2023. Finally, the number of pending sales (under agreement to sell) went down by 5.3% from 38 listings pending sale in December 2022 to 36 listings pending sale in December 2023.
If you are considering buying or selling a home, be sure to check out Wanda's 2024 Buyer and Seller Guides. These guides provide current and in-depth information about the real estate market and what you need to know about buying or selling a home.
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For more information about community happenings and real estate news visit Wanda's Blog at www.wandamooney.com/blog. Check out a copy of her First Time Buyers Guide for more information.
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