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Despite Low Inventory, MA Home Sales Tick Up


Prices and sales in Massachusetts continue to rise in real estate, despite a drop in inventory, according to experts. The Massachusetts Association of Realtors reported this week that closed sales for single-family homes rose half a percent in November ...


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Prices and sales in Massachusetts continue to rise in real estate, despite a drop in inventory, according to expertsThe Massachusetts Association of Realtors reported this week that closed sales for single-family homes rose half a percent in November, while prices rose more than four percentYear-over-year condominium sales saw a hike of over 10 percent, with prices rising almost eight percentInventory, however, dropped to a record low for the month of November.In November, 4,799 single family homes closed in Massachusetts, compared to 4,776 last year at this timeThe median price this November is $384,000, jumping from $369,000 at this time in 2016According to the MassAssociation of Realtors, closed sales have been up or flat eight out of the last 12 months and median prices have been up or flat for 24 out of the last 25 monthsClosed sales have been up or flat for nine out of the last 12 monthsMedian prices have been up or flat for 24 out of the last 25 monthsCondos, too, saw a jump, with 1,749 selling in November of 2016 and 1,930 in the same month in 2017The median price was $368,000 this year, compared to $341,000 last November"Prices have been increasing for two years and inventory continues to go down, but demand continues to be there," said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway, in a statement"This isn't something that is sustainable, yet it continuesWe just need more inventory and we need more housing production to make that happen."Inventory, however, dropped some 26 percent from this same time last year"It is encouraging to see that new listings have been on the upswing the latter half of this year," said Yorkis"However, this is only one part of the inventory solution we need if we're going to truly solve this problem."Photo via Shutterstock Subscribe More from Natick PatchUp next on Natick Patch Best Of Massachusetts 2017: Schools, Hospitals, And More Christmas Tree Pickup; Boston Baroque NYE; More Local Stories The Most Popular Amazon Items Of 2017 ga("send", "event", "taboola", "served", "impression", 1, { "nonInteraction": 1 }); if (mobile_detect.is_phone) { window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-b', container: 'taboola-below-article-thumbnails', placement: 'Mobile Below Article Thumbnails', target_type: 'mix' }); } else { window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-a', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' }); } window._taboola = window._taboola || []; _taboola.push({flush: true}); var disqus_shortname = "patchmedia"; var disqus_identifier = "27417732"; var disqus_title = "Despite Low Inventory, MA Home Sales Tick Up "; var disqus_url = "https://patch.com/massachusetts/natick/despite-low-inventory-ma-home-sales-tick"; jQuery(document).ready(function() { jQuery('#show-disqus, .btn-comment-now').on('click', function(event){ jQuery.ajax({ type: "GET", url: "https://patchmedia.disqus.com/embed.js", dataType: "script", cache: true }); jQuery('#comments-guidelines').show(); event.target.id !== 'show-disqus' && jQuery('html, body').animate({ scrollTop: jQuery('#disqus_thread').offset().top - 220 }, 1000); jQuery('#show-disqus').slideUp(); return false; }); location.hash === '#comments' && jQuery('#show-disqus').click(); }); Show Comments Patch Community Guidelines Patch welcomes contributions and comments from our usersWe strive for civil, enlightened discussions on Patch stories and local issuesPlease abide by our posting standards: Be civil No profanity No personal attacks or insults Stay on topic Users who violate our posting rules will have their comments blocked or deletedUsers who flagrantly violate our standards can be banned at the moderator's discretion. × What are Featured Events? 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Feature your announcement on Patch now Featured Announcements + Add your announcement on Patch Real Estate NearbySelect a Listing TypeNewly ListedOpen HousesForeclosuresRentals 178 E Union StAshland, Massachusetts 01721 For Sale: $599,9004 bd/2 full ba, 2,760 sqft More Info 34 Walden Dr Apt 2Natick, Massachusetts 01760 For Sale: $280,8002 bd/2 full ba, 936 sqft More Info 12 Shady Oak LnNatick, Massachusetts 01760 For Sale: $529,9004 bd/2 full ba, 2,554 sqft More Info 31 Lantern Way Unit 33Ashland, Massachusetts 01721 For Sale: $475,0002 bd/2 full ba, 1,657 sqft More Info 37 Lantern Way Unit 30Ashland, Massachusetts 01721 For Sale: $519,0002 bd/2 full ba, 1,958 sqft More Info 178 E Union StAshland, Massachusetts 01721 For Sale: $599,9004 bd/2 full ba, 2,760 sqft More Info 12 Shady Oak LnNatick, Massachusetts 01760 For Sale: $529,9004 bd/2 full ba, 2,554 sqft More Info 35 John Hancock Dr Unit 74AAshland, Massachusetts 01721 For Sale: $419,9902 bd/2 full ba, 1,770 sqft More Info 241 Elliot St Unit 2Newton, Massachusetts 02464 For Sale: $1,295,0004 bd/4 full ba, 3,606 sqft More Info 9 Adams RdAshland, Massachusetts 01721 For Sale: $415,0003 bd/2 full ba, 1,760 sqft More Info We could not find any nearby foreclosures, but here are a few nearby homes for sale: 178 E Union StAshland, Massachusetts 01721 Foreclosure: $599,9004 bd/2 full ba, 2,760 sqft More Info 34 Walden Dr Apt 2Natick, Massachusetts 01760 Foreclosure: $280,8002 bd/2 full ba, 936 sqft More Info 12 Shady Oak LnNatick, Massachusetts 01760 Foreclosure: $529,9004 bd/2 full ba, 2,554 sqft More Info 31 Lantern Way Unit 33Ashland, Massachusetts 01721 Foreclosure: $475,0002 bd/2 full ba, 1,657 sqft More Info 37 Lantern Way Unit 30Ashland, Massachusetts 01721 Foreclosure: $519,0002 bd/2 full ba, 1,958 sqft More Info 34 Weston RdWellesley, Massachusetts 02482 Rent: $2,7953 bd/1 full ba More Info 1940 Washington StNewton, Massachusetts 02461 Rent: $2,472-$4,9601-3 bd/1-2.5 full ba, 741-1,734 sqft More Info 1400 Worcester RdFramingham, Massachusetts 01702 Rent: $1,515-$2,2950-2 bd/1-2 full ba, 650-1,360 sqft More Info 5 Georgetown DrFramingham, Massachusetts 01702 Rent: $1,572-$1,9180-2 bd/1-2 full ba, 500-1,100 sqft More Info 50 Dinsmore AveFramingham, Massachusetts 01702 Rent: $1,339-$2,3940-3 bd/1-2 full ba, 400-1,300 sqft More Info Nearby PatchesDover-Sherborn Wellesley Framingham Wayland Needham Weston TopicsArts & Entertainment Bulletin Board Business Community Corner Health & Fitness Home & Garden Jobs Kids & Family Local Deals & Classifieds Local Voices Obituaries Police & Fire Politics & Government Real Estate Schools Seasonal & Holidays Sports Weather Corporate InfoAbout Patch Careers PartnershipsAdvertise on Patch SupportFAQs Contact Patch View All Patches Patch Network Terms of Use Privacy Policy © 2017 Patch MediaAll Rights Reserved. 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