January 2021 Single Home Sales
February 2021 Single Home Sales
March 2021 Single Home Sales
April 2021 Single Home Sales
April For the First Time Ever…….
PEABODY, May 19, 2021 – With demand showing no signs of slowing down among prospective buyers,
median single-family home and condominium prices spiked in April, reaching new all-time highs in the
process, according to a new report from The Warren Group, a leading provider of real estate and
transaction data.
of economic uncertainties surrounding COVID-19. In order to give a more accurate representation of
activity in the Massachusetts real estate market, we are providing a two-years of data as a comparison
in this month’s sales report.
April 2020 when there were just 3,729 transactions. Compared to April 2019 (4,293 transactions), single family home sales were up 5.2 percent. In April 2021, the median single-family sale price spiked 21.1
percent on a year-over-year basis to $508,000, up from $430,000 in April 2020 and up 32.6 percent from
April 2019. This is the first time ever that the median single-family home price has surpassed $500,000.
but it’s important to consider the impact COVID-19, last year’s lockdown, and economic uncertainties
had on activity in the second quarter,” said Tim Warren, CEO of The Warren Group. “To get a more
apples-to-apples comparison, we took a look at activity to 2019. Sales were up 5.2 percent from April
2019. Furthermore the 4,517 single family homes sold is an all-time record for the month of April. Even
more impressive were the gains in median price, gaining 18.1 percent from 2020 and 32.6 percent from
2019. The amazing fact of the matter is that the monthly media price has not declined in any month in
the past five years, not even during the darkest days of the pandemic.
Year-to-date, there have been 15,262 single-family home sales in Massachusetts, an 11.5 percent
increase from the first four months of 2020. Meanwhile, the year-to-date median single family home
price increased 15.7 percent on the same basis to $440,000.
1,623 condo sales. Compared to April 2019 (1,988 transactions), condo sales were up 27.3 percent.
Meanwhile, the median sale price increased 12.3 percent on a year-over-year basis to $475,000 – a new
all-time high. This marked the tenth-consecutive month that the median condo price has been more
than $400,000.“Regardless of which year you compare it to, the Massachusetts condo market was red hot in April
2021,” Warren continued. “The Greater Boston condo market is definitely back, and for good reason.
There’s a clearly-defined reopening schedule for the city, which will help spur activity in population
centers that were very unappealing to prospective buyers just a year ago.”
Year-to-date, there have been 7,955 condo sales, a 27.4 percent increase from the first four months of
2020 with a median sale price of $440,000, a 6 percent increase on the same basis.
HUD to Announce Long-Awaited FHA Condo Rules
In 5 Major Markets, Foreclosure Starts Tick Up
In the first half of 2010, foreclosures peaked at 1.6 million-plus properties. In the recovery since, foreclosures have plummeted 82 percent, according to a new report.
Credit: ATTOM Data Solutions
In the first half of 2019, foreclosures hung on over 295,000 properties, according to ATTOM Data Solutions findings, released today—an 18-percent drop from last year. Approximately 177,000 began the foreclosure process in that time, defined as “foreclosure starts,” falling 8 percent year-over-year.
At odds with the overall trend, foreclosures increased in 16 percent of the largest markets in the U.S., with Buffalo, N.Y., and four Florida markets seeing spikes: Jacksonville, Miami, Orlando and Tampa-St. Petersburg.
Across 16 states—and in 42 percent of the largest markets—foreclosure initiations picked up, concentrated in Southern states. In Mississippi, foreclosure starts surged 56 percent year-over-year, and in Florida, rose 28 percent.
“Our midyear 2019 foreclosure activity helps to show an overall view on how foreclosure activity is trending downward,” says Todd Teta, ATTOM Data Solutions chief product officer. “Of course, you still have pockets across the nation where foreclosure activity is seeing some flare-ups.”
“Foreclosure starts is a good indication of markets to watch,” Teta says. “Affordability definitely plays a factor in why some areas across the nation are seeing an uptick in foreclosure starts. The fact that median home sales prices are reaching new levels in Q2 2019, mortgage rates are remaining low and job growth is still strong, lenders are becoming more aggressive with their payment collection because they are confident in getting a decent return in this hot housing market.”
Foreclosure Increases – Markets to Watch
Foreclosure Starts – Markets to Watch
1. Miami, Fla. (+32%)
2. Tampa-St. Petersburg, Fla. (+18%)
3. Atlanta, Ga. (+16%)
4. Washington, D.C. (+8%)
5. Denver, Colo. (+6%)
Foreclosure Rates (Metro)
1. Atlantic City, N.J. (0.92%)
2. Jacksonville, Fla. (0.54%)
3. Trenton, N.J. (0.52%)
4. Rockford, Ill. (0.51%)
5. Lakeland, Fla. (0.51%)
6. Columbia, S.C. (0.49%)
7. Ocala, Fla. (0.49%)
8. Philadelphia, Pa. (0.48%)
9. Fayetteville, N.C. (0.47%)
10. Baltimore, Md. (0.44%)
Foreclosure Rates (State)
1. New Jersey (0.54%)
2. Delaware (0.46%)
3. Maryland (0.43%)
4. Florida (0.39%)
5. Illinois (0.38%)
6. South Carolina (0.33%)
7. Connecticut (0.32%)
8. Ohio (0.3%)
9. Nevada (0.26%)
10. New Mexico (0.26%)
For the complete findings from the report, please visit www.ATTOMData.com.
R.I. Single-family Home Sales Continue to Rise in Second Quarter
Warwick, R.I. – August 1, 2019 — The Rhode Island Association of Realtors released second-quarter sales statistics today from State-Wide Multiple Listing Service, an association subsidiary which tracks all Realtor-assisted sales. The data portrayed a Rhode Island housing market that continued to gain momentum from the previous year. The number of existing single-family home sales increased 2.6 percent in the second quarter, compared to the same time period in 2018. The median price of those sales rose 4.3 percent to $292,000.
“Despite still struggling with a low supply of homes for sale, Rhode Island’s housing market is moving along. A good economy and continued low interest rates have done a lot to keep the market active,” said Dean deTonnancourt, 2019 President of the Rhode Island Association of Realtors.
Twenty-seven out of the 40 Rhode Island areas reported showed a year-over-year increase in the median sales price of single-family homes in the second quarter. Little Compton, Portsmouth and East Greenwich saw the biggest gains — 36.1, 17.7 and 15.1 percent respectively. Median sales price, the midpoint of sales with half selling for more and half selling for less, generally reflects the type and size of the properties sold at the time and is not representative of home appreciation or depreciation among all homes in the area.
Condominium sales followed the same trends. Closings increased by 4.3 percent while the median sales price rose by 3.6 percent to $232,000.
Only the multifamily home market showed a lull in activity. Sales fell by 12 percent last quarter while median price rose by 9.6 percent to $263,000.
Federal Reserve Announces Rate Cut
MA Median Single-Family Home, Condo Prices Reach New Highs in June
Sales activity falls during record-setting month
PEABODY, July 24, 2019 – The median sale price for both single-family homes and condominiums continued their upward climb in June, reaching new highs in the process, according to a new report from The Warren Group, publisher of Banker & Tradesman.
Last month, there were 6,523 single-family home sales recorded in Massachusetts, a 9.6 percent decrease from June 2018 when there were 7,217 transactions. Meanwhile, the median single-family sale price rose 2.1 percent on a year-over-year basis to $429,000, which marked an all-time high for single-family homes. Year-to-date, there have been 26,226 single-family home sales – a 1.1 percent decrease from the first six months of 2018 – with a median sale price of $395,000 – a 3.9 percent increase on the same basis.
“The lack of supply in the Massachusetts housing market and its impact on prices has never been more evident,” said Tim Warren, CEO of The Warren Group. “Last month, I observed that a lack of new listings on the market would continue to add upward pressure to single-family home prices. This appears to have played out and could continue to do so during the remainder of the summer.”
Concurrently, there were 5,918 purchase mortgages for single-family homes in June, marking a 7.8 percent decrease on a year-over-year basis. June purchase mortgages totaled $2.48 billion – a 6.5 percent decrease from a year earlier. Year-to-date, single-family homes have accounted for 23,628 purchase mortgages across Massachusetts totaling $9.47 billion.
Median single-family home sale price reaches all-time high for month of April 2019
Single-family home and condominium sales increased last month as the spring Massachusetts real estate market started to heat up, according to a new report from The Warren Group, publisher of Banker & Tradesman.
Last month, there were 4,279 single-family home sales recorded in Massachusetts, a 2.8 % increase from April 2018 when there were 4,162 transactions.
Meanwhile, the median single-family sale price rose 2 % on a year-over-year basis to $382,500, which marked an all-time high for the month of April. Year-to-date, there have been 14,004 single-family home sales with a median sale price of $375,000 – a 5 percent increase from the first four months of 2018.
“The median sale price for single-family homes has been steadily on the rise for the last three years,” said The Warren Group Associate Publisher and Media Relations Director Cassidy Norton. “Even with inventory levels improving, I fully expect stiff competition between buyers to keep prices elevated during the upcoming spring and summer months.”
Concurrently, there were 3,823 purchase mortgages for single-family homes in April, marking a 5.2 percent increase on a year-over-year basis. April purchase mortgages totaled $1.52 billion – a 6 percent increase from a year earlier. Year-to-date, single-family homes have accounted for 12,581 purchase mortgages across Massachusetts totaling $8.87 billion.
***************Looking to Buy or Sell in MA or RI, please contact stacycorrigan@pompmre.com*******************
Inventory increased and metro market prices rose in the first quarter of 2019, but at a slower pace than the previous quarter, according to new research.
From the first quarter of 2018 to the first quarter of 2019, home prices rose 3.9 percent, according to a National Association of REALTORS® (NAR) report. On an annual basis, there were higher home prices in 86 percent, or 153 of the 178 metropolitan areas in the report. Comparing the largest markets, the median price was $254,800, up from $245,300 in Q1 2018.
Thirteen metro areas (7 percent) experienced double-digit increases, down from 14 in 2018’s first quarter.
Lawrence Yun, NAR chief economist, says the first quarter has been beneficial to U.S. homeowners. “Homeowners in the majority of markets are continuing to enjoy price gains, albeit at a slower rate of growth. A typical homeowner accumulated $9,500 in wealth over the past year,” he said.
A look at the affordability factor: According to the report, national family median income rose to $77,752 in the first quarter, while higher home prices caused overall affordability to decrease from last year. So a buyer making a 5% down payment would need an income of $60,143 to purchase a single-family home at the national median price, while a 10% down payment would require an income of $56,978, and $50,647 would be necessary for a 20% down payment.
According to the report, existing-home sales, including single family homes and condos, increased 1.2 percent from the last quarter and 5.4 percent from the prior year. At the close of the first quarter of 2019, existing for-sale inventory totaled 1.64 million—2.4 percent higher than the prior year. During the first quarter, the average supply was 3.8 months—up from 3.5 months in the first quarter of 2018.
Northeast
Q1 Existing-Home Sales: -1.0% YoY
Q1 Median Price: $277,200 (+3.7% YoY)
“There are vast home price differences among metro markets,” Yun says. “The condition of extremely high home prices may not be sustainable in light of many alternative metro markets that are much more affordable. Therefore, a shift in job search and residential relocations into more affordable regions of the country is likely in the future.”
Yun continues to call on the construction industry to develop more affordable housing units, which he says will combat slower price gains and buyer pullback. “More supply is needed to provide better homeownership opportunities, taming home price growth and widening the inventory choices for consumers. Housing Opportunity Zones could provide the necessary financial benefits for homebuilders to construct moderately priced-homes,” Yun said.
