All Forum Posts by: Timothy Lewman

Massachusetts Single Family Closed Sales Stats for March 2022: Prices went up and sales went down, surprise.

Median price: $549,450 +13.29% Yoy;

Sales: 3,007, -11.17% Yoy;

Sales YTD: 8,612 -12.95% Yoy;

Inventory: 3,007, -3.69% Yoy (I'm not sure if is coincidence or a typo that this is the same number as sales);

New Listings: 5,398, -7% Yoy;

New Listing YTD: 11,325, -8.93% Yoy;

Months Supply: 0.7; +16.67% Yoy;

Days on Market: 34, -24.44% Yoy.

February Massachusetts Single Family Housing Stats: This may be the last of these Pandemic trends, things are starting to shift.

Median Price: $500,000 +8.11% Yoy; +26.58% from 2/2020.

12 month average Median Price: +14.41% Yoy; +29% from 2/2020.

Closed Sales: 2,332 -15.14% Yoy, 2,493 in 2020 and 2,669 in 2019.

12 month average Closed Sales: 55,570 -3.43% Yoy, 55,665 in 2020 and 55,603 in 2019.

Closed Sales Year to Date: 5,605 -11.48% Yoy, 5,752 in 2020 and 5,7222 in 2019.

Inventory: 2,349 -25.10% Yoy, 8,163 in 2020 and 10,262 in 2019. We can handle a lot more inventory if sellers ever come out of the wood work.

New Listings: 3,202 -5.85% Yoy, 4,986 in 2020 and 4,480 in 2019.

12 month average New Listings: 5,211 -2.87%, 6,045 in 2020 and 6,295 in 2019 New Listings Year to Date: 5,927 -10.63% Yoy, 8,913 in 2020 and 6,295 in 2019.

Months Supply: 0.5 -16.67% Yoy, 1.7 in 2020 and 2.2 in 2019.

Cumulative Days on Market: 40 -20% Yoy, 79 in 2020 and 83 in 2019.

JANUARY 2022 NON-CURRENT mortgages and potential impact on market.

Massachusetts checks in at 2.80% of mortgage holders are behind. You can see the various scenarios depending on how much volume and quickly these will come to market.

https://www.blackknightinc.com/.../BKI_MM_Jan2022_Report.pdf

Massachusetts SFH stats for January 2022: Same old story I've been documenting for 2 years, not enough houses coupled with unrelenting demand = price increases.

Median price: $524,450; +12.30% from 1/2021.

Closed Sales: 3,273; -8.68 from 1/2021; 1/2019 was 3,053.

Inventory: 2,387; -2.27% from 1/2021; 1/2019 was 10,242(!).

New Listings: 2,725; -15.66 from 1/2021; 1/2019 was 4,324.

Months Supply: 0.5; -28.57% from 1/2021; 1/2019 was 2.2.

Cumulative days on Market: 37; -11.90% from 1/2021; 1/2019 was 77(!).

Massachusetts Single Family Housing stats for December 2021: Prices continue to move higher as sales remain strong, new listings are being bought and inventory has plummeted. Look for mortgage rates to rise this year as the Federal Reserve has begun the process of normalizing their policies in response to sustained inflation reads - including withdrawing support for mortgage backed securities. The consensus is that a rate range of 3.75% to 4.25% will start to hamper the mortgage market (buyer demand), we are currently at 3.64% according to the last read on 1/19/21.

Median Price: $525,000, +9.6% from 12/2020, +27.27% since 12/2019;

Sales: 5,155, -12.03% from 12/2020 and +8.8% from 12/2019;

Sales YTD: 56,297, -1.17% from 12/2020 and +1.2% from 12/2019;

Inventory: 2,669, -30.65% from 12/2020 and -67.9% from 12/2019;

New Listings: 2,181, -16.34% from 12/2020 and +6.8% from 12/2019

New Listings YTD: 63,242, -5.13% from 12/2020 and -12.7% from 12/2019;

Month Supply: 0.6, -15.6% from 12/2020 and -64.7% from 12/2019;

Cumulative Days on Market : 32, -17.95% from 12/2020 and -50.76% from 12/2019.

@Kimberly Theriault I'm looking at a purchase on a couple of months. I'm not worried about the price as once the mortgage is locked in your biggest expense is set for the next 30 years. I'm only concerned with cashflow, rents are increasing to offset all other expenses, which are also rising. As long as your going to hold the property for 10 to 15 years you should have no concerns about prices, they will going up be, as long as the govt keeps printing more and more money.

@Todd N. Fiat money is being devalued due to inflation. Keep your mortgages, it's only getting cheaper while rents are increasing. I don't see any point in paying it off early. I'm trying to borrow as much as possible to buy more assets.

Massachusetts SFH stats for November: More of the same insanity...houses selling like normal but not nearly enough new listings - keeping prices elevated and days on market compressed.

Median Price: $525k +9.38% from 11/2021 (Yoy), +29.63% from 11/2019;

Closed Sales: 5,065 -4.83% Yoy, 4,504 for 11/2019;

YTD Closed Sales: 51,142 +2.08% Yoy, 50,898 for 11/2019; No problem selling houses, within normal range for November since 2015;

Inventory: 3,848, -28.94% Yoy, 11,142 for 11/2019; the stack chart tells the story - lower and lower;

New Listings: 3,854 -8.76% Yoy, 3,680 for 11/2019; Lowest November reading since 2015;

YTD New Listings: 61,061 -4.68% Yoy, 70,384 for 11/2019; Lowest November reading since 2015;

Months Supply: 0.8 -27.27% Yoy, 2.3 for 11/2019; obscene!

Cumulative Days on Market: 30 -18.92% Yoy, 62 for 11/2019; also obscene!

Hi - I'm looking to estimate monthly/annual cost and revenue for a STR vacation property. I'm looking in Ft Myers/Cape Coral , not sure if that's in your area. I have a Mashvisor account that I've been using to estimate, is that reliable?

Updated through September. The number of delinquent mortgages continues to tick down.

For comparison, we had monthly inventories of +10,000 in 2019 so this market can handle a lot more houses on market, which would slow the double digit price gains we have been seeing since Covid.

*Still using 2019 mortgage numbers, Census Bureau hasn't updated to 2020 yet.