Home and condo sales in Massachusetts declined significantly in November – archyde

November saw significant declines in single-family home and condominium sales in Bay State. Despite these declines, median prices continued to rise and set records.

The Warren GroupMassachusetts Sales Report for November 2021 found single-family home sales fell 7.8% to 5,366 from 5,819 a year ago. However, compared to November 2019, home sales increased 16%.

Average sales price marked another all-time high of $ 510,000 in November, up from $ 450,000 last year and 30.4% more than last year November The price of $ 391,000 in 2019. According to the report, 56,538 single-family homes were sold in Massachusetts year-to-date, 2.3% more than the first 11 months of 2020.

Warren Group CEO Tim Warren While one might think that a 7.8% drop in sales is a cause for concern, activity is still well above what would be the case during a “normal market”.

“In fact, November 2021 was the second largest single-family home sale we’ve ever seen in November,” he said. “I think we will continue to see median prices rise in the coming year, but at a more moderate pace. The sales volume is likely to remain unchanged in view of the tight supply, high prices and rising interest rates. “

Sale of condominiums Also down 0.6% in November to 2,114, compared to 2,126 a year earlier and 11.4% more than November 2019. Last month, the average condominium price rose 8.5% to $ 445,000, a new monthly high. The average price of condominiums rose 17.7% compared to November 2019.

Warren said the housing market is following trends similar to the single-family home sector, with year-over-year sales declining but activity well above what is typically seen at this time of year.

“The condominium market was particularly stumbled in the second and third quarters of last year due to COVID-19, so there is a lot of catching up to do from potential buyers, which is still happening over a year later,” he said.

So far this year, 26,316 condominiums have been sold, up 21.6% from the first eleven months of 2020, while the average condominium sales price rose 9.6% to $ 455,000.

Reference-www.nach-welt.com

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