All Forum Posts by: Timothy Lewman

Mass Single Family Housing Stats for February 2023. Slowing sales and new inventory/listings, prices seem to have leveled off.

Median Price: $520,000, +4% Yoy

Closed Sales: 1,899, -18.57% Yoy

YTD Closed Sales: 4,137, -26.19% Yoy

12 Month Closed Sales: 46,262, -16.75% Yoy

Inventory: 3,401, +44.79% Yoy

Inventory YTD: +21.10% Yoy

New Listings: 2,520, -21.30% Yoy

New Listings YTD: 5,091, -14.10% Yoy

Months Supply: 0.9 months, +80% Yoy (was 0.5 in 2/2023)

Cumulative Days on Market: 53, +32.50% Yoy.

Hey Kyle - Not changing anything yet, full speed ahead on single family flips.  I don't think we will get any major moves in housing prices this year, though they are moderating/leveling out.  To get price movement you need forced sellers, who will sell at a discount to current values to avoid foreclosure.   To get foreclosures you going to need layoffs/unemployment rate going up, which isn't happening right now. I'm thinking 2024 will be the year but anything is possible as mortgage rates inch up to 7%+.

Massachusetts Single Family Housing Stats for January 2023: inventory continues to build as sales and new listings slump and it's taking longer to sell the houses that are listed.

Median Price: $520,000, -0.85% Yoy. Our second Yoy price drop in three months.

Closed Sales: 2,238: -31.62% Yoy

12 Month Closed Sales: 46,695, -16.60 Yoy

Inventory: 3,765, +57.73% Yoy

New Listings: 2,571, -5.65% Yoy

Months Supply: 1: +100% Yoy - was 0.5 last January

Cumulative Days on Market: 46, +24.32% Yoy

Massachusetts Single Family Housing stats for December 2022, slowing sales, slowing listings and rising inventories are slowing price growth.

Median Price: $535,000 +1.90% Yoy.

Closed Sales: 3,648, -29.23% Yoy.

YTD Closed Sales: 47,730, -29.13% Yoy

Inventory: 3,981, +49.21% Yoy.

YTD Inventory +11.79% Yoy.

New Listings: 1,592, -27.01% Yoy.

YTD New Listings: 56,.339, -10.92% Yoy.

Months Supply: 1, +66.67% Yoy - still a sellers market, 6 months is considered neutral balance of buyers and sellers.

Cumulative Days on Market: 40, +25% Yoy.

November 2022 Massachusetts Housing Data: 1st Yoy price decrease since 12/2018 and inventory is building quickly.

Median Price: $522,950, -0.39 Yoy

Closed Sales: 3,595, -29.02% Yoy

YTD Closed Sales: 44,082, -25.07% yoy

Inventory:

5,559, +44.46% Yoy

YTD Inventory: +9.72% Yoy

New Listings: 3,238, -15.98% Yoy

YTD New Listings: 54,747, -10.34% Yoy

Months Supply: 1.4 months, +75% Yoy!!

Cumulative Days on Market: 37, +23.33% Yoy

August Massachusetts Housing Stats: Higher prices, lower sales, lower listings, inventory continues to build - 4 positive months in a row!

Median Price: $599,000; +8.51% Yoy

Closed Sales: 5,272; -8.57% Yoy

Closed Sales 12 month: 52,477 -11.13% Yoy

Closed Sales YTD: 32,074; -11.69% Yoy

Inventory: 6,041; +13.08% Yoy

Inventory YTD: +1.66%

New Listings: 4,908; -17.57% Yoy

New Listings 12 month average: 4,956; -10.02% Yoy

New Listings YTD: 41,818; -8.26% Yoy

Months Supply: 1.7 months, +54.55% !!!!

Cumulative Days on Market: 26; +4.00%

Massachusetts Single Family Sales stats for July 2022. More of the same: higher prices, lower sales and 3 months of inventory build - but still firmly in a sellers market, see Months Supply below.

Median Price: $607,000, +8.39% Yoy

12 Month Median Price: $555,387.50, +10.25%, Yoy

Closed Sales: 4,900, -14.81% Yoy

12 Month Closed Sales: 52,971, -11.05% Yoy

YTD Closed Sales: 26,802, -11.52% Yoy

Inventory: 6,225, +12.81% Yoy

YTD Inventory: - 0.53%

New Listings: 5,544, -12.56% Yoy

12 Month New Listings: 5,044, -9.23% Yoy

YTD New Listings: 36,910, -6.86% Yoy

Months Supply: 1.4, +27.27% yoy - 6 months is considered neutral.

Cumulative Days on Market: 24, +5.33% yoy - still selling quickly.

Mass Housing Closed Sales for June 2022: NO relent! Inventory has risen in two consecutive months but prices continue to climb and sales continue to lag.

Median Price: $629,000; +8.73% Yoy

Closed Sales: 5,675; -8.47% Yoy

12 month Closed Sales: 53,823; -10.56% Yoy

Closed Sales YTD: 21,902; -7.68% Yoy

Inventory: 5,640; +21.08% Yoy

Inventory YTD: -3.83% Yoy

New Listings: 7,432; -4.34% Yoy

12 month New Listings: 5,110, -8.86% Yoy

New Listings YTD: 31,366, -5.78% Yoy

Months Supply: 1.3; +44.44% Yoy

Cumulative Days on Market: 22; -4.35% Yoy

Mass Housing sales stats for May 2022: Basically more of the same, higher prices, declining sales with a slight inventory build twist. I have been waiting for an inventory build which could foreshadow a price slow down.

Median Prices: $617,750 +12.32%

Closed Sales: 4,237 -6.59%

YTD Closed Sales: 16,227 -9.98%

Inventory: 4,310 +12.50%

YTD Inventory: +3.55%

New Listings: 6,726 +5.70%

YTD New Listings: 23,934 -6.21%

Months Supply: 1 +42.86%

Cumulative Days on Market: 25 -13.79%

Massachusetts Single Family Housing Sales stats for April 2022: Sales down, prices up - not much has changed, yet...

Median Price: $590,000 +11.53% Yoy

Closed Sales: 3,378 -13.89% Yoy

Closed Sales YTD: 11,990 -12.63% Yoy

Inventory: 3,819

-4.82% Yoy

New Listings: 5,883 -12.47% Yoy

New Listings YTD: 17,208 -10.17% Yoy

Months Supply: 0.8 same as last year

Cumulative Days on Market: 31 -13.89% Yoy