massachusetts real estate activity published by mar- may 2015
TRANSCRIPT
A RESEARCH TOOL PROVIDED BY THE MASSACHUSETTS ASSOCIATION OF REALTORS®
4,157 Single-Family Only
- 5.2% - 10.1%Year-Over-Year Change
Median Sales Price
$341,000 Single-Family Only
- 1.5% + 4.8%Year-Over-Year Change
Homes for Sale
20,622Single-Family Only
- 17.4% - 21.6%Year-Over-Year Change
New Listings
10,439Single-Family Only
+ 7.6% + 9.7%Year-Over-Year Change
Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of June 7, 2015.
Quick Facts
5,084
$330,000
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing.
Monthly Indicators
May 2015Closed SalesThe U.S. economy has been pretty even so far this year. Usually when new
figures are released, they paint a pretty picture worthy of putting above the fireplace in that purchased new home. Recently, some numbers for the first quarter were adjusted to show a slight contraction in the economy. The initial response from Wall Street was unfavorable, but the correction itself is truly a mere blip. Nobody is predicting that the market will take a sudden turn.
New Listings were up 7.6 percent for single-family homes and 9.7 percent for condominium properties. Closed Sales decreased 5.2 percent for single-family homes and 10.1 percent for condominium properties.
The Median Sales Price was down 1.5 percent to $341,000 for single-family homes but was up 4.8 percent to $330,000 for condominium properties. Months Supply of Inventory decreased 22.6 percent for single-family units and 23.1 percent for condominium units.
One interesting effect of a weaker-than-expected economy is that the Federal Reserve does not seem ready to raise short-term interest rates during summer, as some had suggested might happen. New projections indicate that rates will remain the same until September at the earliest. The dominant storylines in housing are decidedly not negative these days. Instead, you're more likely to see top sales and luxury living highlighted than the woes of foreclosures and short sales.
Condominium Only
Year-Over-Year Change
Condominium Only
Year-Over-Year Change
Year-Over-Year Change
Condominium Only
Year-Over-Year Change
Condominium Only
3,292
1,825
Single-Family Market Overview
Historical Sparkbars 5-2014 5-2015 + / – YTD 2014 YTD 2015 + / –
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 2
- 2.2%New Listings 9,698 10,439 + 7.6% 34,506 33,750
+ 7.1%
Pct. of Orig. Price Received 95.8% 96.2% + 0.4% 94.4% 94.5% + 0.1%
Cumulative Days on Market 99 106 + 7.1% 112 120
--
Final Days on Market 70 74 + 5.7% 81 85 + 4.9%
Months Supply 6.2 4.8 - 22.6% -- --
+ 6.8%
Homes for Sale 24,964 20,622 - 17.4% -- -- --
Affordability Index 110 121 + 10.0% 118 126
15,029 - 2.2%
Median Sales Price $346,325 $341,000 - 1.5% $323,000 $328,000 + 1.5%
15,374
Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.
Closed Sales 4,384 4,157 - 5.2%
Key Metricsselect the desired metric to jump to that page
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
Condominium Market Overview
Historical Sparkbars 5-2014 5-2015 + / – YTD 2014 YTD 2015 + / –Key Metricsselect the desired metric to jump to that page
Key market metrics for the current month and year-to-date figures for Condominium Properties Only.
6,224 - 10.0%
$312,900 + 1.8%
6,918Closed Sales 2,029 1,825 - 10.1%
Median Sales Price $315,000 $330,000 + 4.8% $307,250
Affordability Index 121 125 + 3.3% 124 132 + 6.5%
--
-- --
Homes for Sale 6,482 5,084 - 21.6% -- --
Months Supply 3.9 3.0 - 23.1% --
Final Days on Market 54 48 - 11.1% 63
Cumulative Days on Market 78 69 - 11.5% 85
+ 0.2% 97.4% 97.5%
- 1.6%
87 + 2.4%
62
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 3
+ 0.1%
New Listings 3,002 3,292 + 9.7% 12,379 12,148 - 1.9%
Pct. of Orig. Price Received 98.5% 98.7%
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
5-2012 5-2013 5-2014 5-2015
Closed Sales
Single-Family
YoYChange Condominium
YoYChange
June 2014 5,691 + 1.3% 2,304 + 3.1%
July 2014 5,533 - 4.2% 2,186 - 5.6%
August 2014 5,365 - 5.1% 2,097 - 9.0%
September 2014 4,331 - 0.8% 1,744 - 2.6%
October 2014 4,429 + 2.9% 1,751 + 7.4%
November 2014 3,621 - 5.2% 1,381 - 7.6%
December 2014 4,169 + 7.7% 1,592 - 1.3%
January 2015 2,733 - 2.5% 991 - 9.9%
February 2015 2,171 + 2.0% 880 - 6.0%
March 2015 2,804 + 1.7% 1,141 - 12.6%
April 2015 3,164 - 4.2% 1,387 - 10.3%
May 2015 4,157 - 5.2% 1,825 - 10.1%
Total 48,168 - 1.3% 19,279 - 5.0%
Historical Closed Sales by Month
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 4
A count of the actual sales that closed in a given month.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
4,779
2,019
4,384
2,029
4,157
1,825
Single-Family Condominium
May
16,235
6,679
15,374
6,918
15,029
6,224
Single-Family Condominium
Year to Date
2013 2014 2015- 10.1%+ 0.5%- 5.2%- 8.3% + 3.6%- 2.2%- 5.3% - 10.0%+ 9.4% + 4.3% + 11.7%+ 13.2%
2013 2014 2015 2013 2014 2015 2013 2014 2015
Median Sales PricePoint at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Single-Family
YoYChange Condominium
YoYChange
June 2014 $364,950 + 4.0% $332,000 + 3.8%
July 2014 $360,000 + 2.9% $321,750 + 3.1%
August 2014 $350,000 + 1.4% $325,000 + 1.6%
September 2014 $325,000 0.0% $305,175 - 0.1%
October 2014 $325,000 + 1.6% $300,000 + 1.4%
November 2014 $330,000 + 4.4% $302,500 + 1.4%
December 2014 $330,000 + 3.2% $319,950 + 4.4%
January 2015 $330,000 + 3.1% $311,000 + 3.7%
February 2015 $316,000 + 7.1% $293,250 + 2.9%
March 2015 $320,000 + 1.9% $309,108 + 3.0%
April 2015 $325,000 + 1.7% $305,000 - 4.4%
May 2015 $341,000 - 1.5% $330,000 + 4.8%
Median $338,500 + 2.6% $315,000 + 1.6%
Historical Median Sales Price by Month
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 5
$325,000
$291,000
$346,325
$315,000
$341,000$330,000
Single-Family Condominium
May
200,000
250,000
300,000
350,000
400,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
$300,000
$275,000
$323,000$307,250
$328,000$312,900
Single-Family Condominium
Year to Date
+ 4.8%+ 8.2%- 1.5%+ 6.6% + 11.7%+ 1.5%+ 7.7% + 1.8%+ 9.3% + 7.5% + 1.9%- 1.7%2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Housing Affordability Index
Single-Family
YoYChange Condominium
YoYChange
June 2014 104 0.0% 114 0.0%
July 2014 105 0.0% 118 + 0.9%
August 2014 109 + 3.8% 117 + 3.5%
September 2014 116 + 2.7% 123 + 2.5%
October 2014 118 + 2.6% 128 + 3.2%
November 2014 116 - 5.7% 127 - 2.3%
December 2014 117 + 0.9% 121 0.0%
January 2015 125 + 9.6% 133 + 9.0%
February 2015 131 + 4.0% 141 + 8.5%
March 2015 127 + 7.6% 132 + 6.5%
April 2015 127 + 9.5% 135 + 16.4%
May 2015 121 + 10.0% 125 + 3.3%
Average 118 + 3.9% 126 + 4.2%
Historical Housing Affordability Index by Month
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessaryto qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 6
119
132
110
121121 125
Single-Family Condominium
May
60
80
100
120
140
160
180
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
128140
118124126
132
Single-Family Condominium
Year to Date
+ 3.3%- 8.3%+ 10.0%- 7.6% - 11.4%+ 6.8%- 7.8% + 6.5%- 12.5% - 11.7% - 6.7%- 3.6%2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Inventory of Homes for Sale
Single-Family
YoYChange Condominium
YoYChange
June 2014 26,088 + 6.4% 6,582 - 5.6%
July 2014 26,487 + 8.3% 6,515 - 3.0%
August 2014 26,302 + 6.2% 6,236 - 6.2%
September 2014 26,631 + 5.6% 6,353 - 7.9%
October 2014 25,248 + 4.1% 6,194 - 7.4%
November 2014 22,308 + 1.3% 5,534 - 8.6%
December 2014 18,151 - 1.8% 4,589 - 9.6%
January 2015 17,297 - 5.2% 4,509 - 12.1%
February 2015 16,256 - 12.3% 4,369 - 17.8%
March 2015 16,606 - 15.9% 4,532 - 19.4%
April 2015 19,186 - 13.9% 5,016 - 17.4%
May 2015 20,622 - 17.4% 5,084 - 21.6%
Average 21,765 - 2.4% 5,459 - 11.1%
Historical Inventory of Homes for Sale by Month
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 7
The number of properties available for sale in an active status at the end of a given month.
23,807
7,056
24,964
6,482
20,622
5,084
Single-Family Condominium
May
0
10,000
20,000
30,000
40,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
2013 2014 2015- 21.6%- 8.1%- 17.4%+ 4.9%
2013 2014 2015- 17.8% - 24.2%
Months Supply of InventoryThe inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Single-Family
YoYChange Condominium
YoYChange
June 2014 6.5 + 8.3% 4.0 - 7.0%
July 2014 6.6 + 11.9% 3.9 - 2.5%
August 2014 6.6 + 10.0% 3.8 - 5.0%
September 2014 6.6 + 8.2% 3.8 - 7.3%
October 2014 6.2 + 6.9% 3.7 - 7.5%
November 2014 5.5 + 3.8% 3.4 - 5.6%
December 2014 4.5 0.0% 2.8 - 6.7%
January 2015 4.2 - 4.5% 2.7 - 10.0%
February 2015 4.0 - 11.1% 2.7 - 12.9%
March 2015 4.1 - 14.6% 2.8 - 15.2%
April 2015 4.6 - 16.4% 3.0 - 16.7%
May 2015 4.8 - 22.6% 3.0 - 23.1%
Average 5.4 - 1.4% 3.3 - 9.9%
Historical Months Supply of Inventory by Month
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 8
5.9
4.4
6.2
3.9
4.8
3.0
Single-Family Condominium
May
2
4
6
8
10
12
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
2013 2014 2015- 23.1%- 11.4%- 22.6%+ 5.1%
2013 2014 2015- 27.2% - 35.3%
Final Days on Market
Single-Family
YoYChange Condominium
YoYChange
June 2014 60 - 6.3% 48 - 12.7%
July 2014 55 - 6.8% 48 - 14.3%
August 2014 60 - 4.8% 51 - 7.3%
September 2014 68 - 4.2% 54 - 16.9%
October 2014 73 + 4.3% 59 0.0%
November 2014 72 + 1.4% 58 + 1.8%
December 2014 78 + 6.8% 57 - 6.6%
January 2015 86 + 4.9% 65 - 9.7%
February 2015 97 + 4.3% 71 - 6.6%
March 2015 88 - 3.3% 71 + 10.9%
April 2015 88 + 8.6% 63 + 5.0%
May 2015 74 + 5.7% 48 - 11.1%
Average 72 + 0.4% 56 - 6.7%
Historical Final Days on Market by Month
Average number of days between when a property is last listed and when the final offer is accepted in a given month.
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 9
82
6670
54
74
48
Single-Family Condominium
May
40
60
80
100
120
140
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
94
7781
63
85
62
Single-Family Condominium
Year to Date
- 11.1%- 18.2%+ 5.7%- 14.6% - 18.2%+ 4.9%- 13.8% - 1.6%- 12.8% - 11.3% - 22.2%- 21.4%2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Cumulative Days on Market
Single-Family
YoYChange Condominium
YoYChange
June 2014 89 + 3.5% 70 - 1.4%
July 2014 81 + 9.5% 68 + 6.3%
August 2014 87 + 11.5% 73 + 10.6%
September 2014 95 + 4.4% 75 - 7.4%
October 2014 100 + 8.7% 81 + 3.8%
November 2014 101 + 7.4% 80 + 3.9%
December 2014 108 + 9.1% 82 + 3.8%
January 2015 122 + 10.9% 92 - 1.1%
February 2015 129 + 5.7% 101 + 4.1%
March 2015 127 + 4.1% 97 + 14.1%
April 2015 126 + 9.6% 89 + 8.5%
May 2015 106 + 7.1% 69 - 11.5%
Average 102 + 7.6% 79 + 2.3%
Historical Cumulative Days on Market by Month
Average number of days between when a property is first listed and when the final offer is accepted before closing in a given month.
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 10
111
86
99
78
106
69
Single-Family Condominium
May
40
60
80
100
120
140
160
180
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
126
99
112
85
120
87
Single-Family Condominium
Year to Date
- 11.5%- 9.3%+ 7.1%- 10.8% - 14.1%+ 7.1%- 11.1% + 2.4%- 14.0% - 11.9% - 22.7%- 22.5%2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Percent of Original List Price Received
Single-Family
YoYChange Condominium
YoYChange
June 2014 96.4% + 0.4% 98.9% + 1.2%
July 2014 96.3% + 0.5% 98.2% + 0.2%
August 2014 95.5% - 0.1% 98.2% + 0.4%
September 2014 94.5% - 0.2% 97.4% + 0.3%
October 2014 94.1% - 0.4% 96.9% - 0.1%
November 2014 94.0% 0.0% 96.7% - 0.4%
December 2014 93.2% - 0.3% 96.5% + 0.1%
January 2015 93.4% + 0.4% 96.6% + 0.7%
February 2015 93.0% - 0.3% 96.2% - 0.3%
March 2015 94.2% + 0.5% 96.8% - 0.3%
April 2015 94.7% - 0.1% 97.9% - 0.1%
May 2015 96.2% + 0.4% 98.7% + 0.2%
Average 94.9% + 0.1% 97.6% + 0.2%
Historical Percent of Original List Price Received by Month
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties soldin a given month, not accounting for seller concessions.
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 11
95.0% 97.3%95.8% 98.5%96.2% 98.7%
Single-Family Condominium
May
88%
90%
92%
94%
96%
98%
100%
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
93.3% 96.1%94.4% 97.4%94.5% 97.5%
Single-Family Condominium
Year to Date
+ 0.2%+ 1.2%+ 0.4%+ 0.8% + 1.4%+ 0.1%+ 1.2% + 0.1%+ 2.6% + 2.6% + 3.4%+ 3.1%2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
New Listings
Single-Family
YoYChange Condominium
YoYChange
June 2014 8,436 + 13.3% 2,699 + 4.5%
July 2014 7,045 + 7.3% 2,288 + 5.4%
August 2014 6,151 - 2.7% 1,888 - 13.8%
September 2014 7,291 + 3.8% 2,486 - 2.8%
October 2014 6,089 + 1.8% 2,243 + 3.0%
November 2014 3,584 - 9.4% 1,355 - 2.4%
December 2014 2,551 + 3.4% 955 + 5.2%
January 2015 3,940 - 4.5% 1,513 - 12.1%
February 2015 3,093 - 33.6% 1,344 - 28.4%
March 2015 6,334 - 9.7% 2,527 - 5.1%
April 2015 9,944 + 10.4% 3,472 + 11.4%
May 2015 10,439 + 7.6% 3,292 + 9.7%
Total 74,897 + 0.8% 26,062 - 1.1%
Historical New Listings by Month
A count of the properties that have been newly listed on the market in a given month.
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 12
9,307
3,097
9,698
3,002
10,439
3,292
Single-Family Condominium
May
34,118
12,883
34,506
12,379
33,750
12,148
Single-Family Condominium
Year to Date
+ 9.7%- 3.1%+ 7.6%+ 4.2% - 3.9%- 2.2%+ 1.1% - 1.9%+ 17.0% - 2.7% - 0.7%+ 17.2%
0
2,000
4,000
6,000
8,000
10,000
12,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015
Single-Family Condominium
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Glossary of Terms
Closed Sales
Median Sales Price
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
Final Days on Market Until Sale
Cumulative Days on Market Until Sale
Percent of Original List Price Received
New Listings
All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by 10K Research and Marketing. | 13
A measure of the number of homes available for sale at a given time. Once a listing goes pending, sold or is taken off the market, it is no longer considered “active.” The availability of homes for sale has a big effect on supply-demand dynamics and home prices.
The inventory of homes for sale (at the end of a given month) divided by the average monthly pending sales from the last 12 months.
A measure of how many calendar days pass between when a listing becomes active (not pending) for the last time to the last time it goes pending directly before it is sold. A pending sale is defined as something classified as Pending, Active with a Flag, Contingent or Under Agreement.
A measure of the average number of calendar days that pass from when a listing is first listed to when a property goes into the last pending status before it is sold.
This is calculated as Total Sold Dollars (all sold prices added together) divided by Total Original Price (all original list prices added together).
A measure of how much new supply is coming onto the market from sellers. It is calculated by counting all listings with a list date in the reporting period.
A measure of how affordable a region’s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county.
A research tool provided by the Massachusetts Association of REALTORS®
A measure of home sales that were closed to completion during the report period.
A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point.