Double-digit surge: March home listings, closed sales soar MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

After months of declines, March saw single-family home listings and closed sales jump almost twenty five percent month over month, according to the Massachusetts Association of Realtors March housing statistics report. Single-family listings rose twenty two  point two percent, while closed sales climbed twenty four point seven percent after three months of declines. Despite the increase in listings, housing demand continues to exceed supply, driving up median sale prices. Amy Wallick, 2024 MAR president and Realtor at Lamacchia Realty, expressed optimism despite the subdued market activity.

“Although market activity remains low, we’re remaining optimistic, as several municipalities are planning to allow accessory dwelling units by right, which will help to add inventory as we enter the spring market,” said Wallick. “We encourage buyers to remain active in their search and for those considering selling their home, now is a great time, as we continue to see an increase in median sale prices and high demand month over month.”

Last month, the median sale price for a single-family home in Massachusetts increased by eight point nine percen from March 2023 to $609,900, while new, single-family home listings decreased by eleven point one percent. The condo market fared similarly, as the median condominium price increased from last year, up seven point eight percent to $555,000. Similar to home listings, condo listings fell last month, decreasing fourteen point one percent from a year ago. The report also found that year over year, single-family closed sales fell six percent, while closed condo sales fell ten point six percent.

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