June 2019 Massachusetts Closed sales stats

[Timothy Lewman]

June is generally a strong month for single family home sales in Massachusetts. We are seeing the same trends of price increases and slower volume; not much has changed.

The Warren Group, which reports all transactions - including those that aren't listed on the MLS services (off-market), shows that the median price for June closed sales is $429,000, up 2.14% from June 2018. The volume of transactions is down 9.47% at 6,523 properties changing hands.

The Massachusetts Association of Realtors reports on only MLS listed transactions, providing a read on the retail market. For June we have a median price of $440,000, up 2.33% from June 2018 at $430,000. With that price increase we had a meager 6,004 deeds changing owners, which is down 8.88% over last June's print of 6,589!

Price gains are leaving buyers on the sidelines as they are blocked by affordability and limited supply as new listings for the month down 6.67% from last June, chocking supply and forcing prices up as more buyers are competing over limited stock. We remain in a seller's market and I don't see anything that is going to change these trends.