Feb Massachusetts Housing Data

[Cheng Bin Zhang]

Surprise Surprise?

In a surprising twist - single family home prices in Massachusetts came roaring back with a 27% year-over-year increase in PPSF. A lot of this is likely due to pent-up demand from buyers priced out of the market last year.  But are folks suspecting that sellers are underpricing their homes to draw more traffic/overbidding?

On the condominium and multi-family market front, the picture isn't as rosy. Condo inventory remains elevated and prices have attenuated with a moderate 2.8% gain in PPSF. On average, condominiums and multifamily homes are selling below asking.

Source: MLS