Sales of single-family #homes #condominiums were down in April #realestatemarket #homebuyer #homesforsale

Sales of single-family homes and condominiums were down 14.4 Percent and 22.3 Percent , respectively, in April compared to a year ago, according to the Massachusetts Association of Realtors.

Meanwhile, the median price for homes in Massachusetts was up 11% over the same time period — $440,000 for single-family homes and $432,000 for condominiums. Single-family home sales statewide were at 3,441 in April, down from 4,022 in April of 2019.

Condominium sales were about the same with 1,391 in April, down from 1,791 in April 2019. Kurt Thompson, 2020 MAR President, broker at Keller Williams Realty North Central in Leominster, said the real estate industry is continuing to adapt in the age of COVID-19. “While we saw a significant decrease in inventory last month, demand for housing remains high in Massachusetts,” he said.

“We’re encouraged by our realtor members adapting to the current environment to provide the best service for their clients as they look to build their futures.” Lack of inventory also is contributing to this decrease in sales, according to MAR. New listings of 3,970 single-family homes and 1,485 condominiums came onto the market last month, showing a 50% decline from April 2019.

Pending single family-sales were 3,510 in April 2020, a drop of 38.2% from April of last year. And, pending condo sales were 1,109, down 52.6% from the same time last year.

The post Massachusetts Association of Realtors: Our members are adapting as they look toward the future appeared first on Boston Agent Magazine.

First Time Home Buying in Massachusetts

MABA Buyer Agents help first time home buyers reduce the stress and frustration normally associated with buying a home or condo – especially for first time home buyers.

As a first time homebuyer in Massachusetts, you can turn to our non-profit organization to help you understand and navigate the complexities of the entire Massachusetts real estate transaction, from mortgage pre-approval until you are handed the keys to your new home or condominium. Each of our member buyer's brokers and agents works only for their buyer-clients and never for the seller of the home or condo that their buyers want to buy.

MABA Buyer Agents will take the time to learn about you and your real estate goals, help you understand your options, including first time home buyer programs, properties and/or condominium associations, estimate real property values and put together a negotiating strategy to help you increase the odds of getting your offer accepted in our competitive Massachusetts real estate market. After advocating to get your offer accepted, your MABA buyer's agent will be there for you at your home inspection and help you protect your deposit through the inspection, purchase & sale and financing contingency periods.

You can buy your first home or condo with confidence knowing that your MABA buyer agent is committed to saving you time and money and helping you make your best home buying decision.

Who Pays the Home Buyer's Agent?

Both seller's agent fees and buyer agent's fees are part of a typical real estate transaction and are included in the final negotiated purchase price of the property. There should be no additional fees to the buyer for a buyer's agent above and beyond the negotiated purchase price of a home unless specifically agreed in writing between the buyer and agent before an offer is made.

In most cases, the seller's agent pays the buyer's agent for bringing the buyer, negotiating the purchase price and terms, writing a legally correct offer, coordinating inspections, responses, and financing plus handling numerous additional details on the buyer's side of the transaction.

Buyers should avoid contacting seller's agents and sellers directly unless they are comfortable negotiating and representing themselves. That is why it is important for buyers to choose their agents BEFORE they begin looking at homes or as soon as possible if they have begun looking.

Did you know that fewer than one percent of the agents and brokers in Massachusetts have committed to being 100% loyal to their buyers 100% of the time?

To learn more about the pros and cons of various types of buyer agents, or to get a list of experienced local 100% loyal buyer's agents to interview without obligation, click the button below.

 Find a Great Buyer Agent!

Homebuyers: For access to all listings and to find a homebuyers real estate agent that will represent only your interests call 800-935-6222 or click the button below to connect with MABA. At MABA we got you!