January 2020 Massachusetts Closed sales stats

[Timothy Lewman]

Greetings, January 2020 Massachusetts real estate update:

The Warren group reports that we had a median sales price for single family homes (SFH) of $393,000 in January 2020, up 7.08% from January 2019. Of transactions on the MLS services, the median price was $405,000, up 6.86% from January 2019. I added a new chart that shows the 12 month moving average of the median price, which smooths out all of the seasonal fluctuations.

As far as closed transactions are concerned, Warren group shows 3,507, up 8.58% from 1/2019. MARealtor.com shows 3,259 properties changing hands, up 6.75%. For the year of 2019, transactions are down 0.10%

Inventory will not save the day, according to MARealtors.com the reading is down 22.49% to a paltry 7,939 homes for sale in January 2020. We haven't seen a figure this low in years, it's off the chart! Additionally, new listings are down 9.09% from 1/2019 to 3,931.

On a national scale, we see the Case-Shiller index check in at 224 for the past 3 months. This has held steady for the last few reports.