Massachusetts home, condo sales increase in October as buyers return to market MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

 The sale of single-family homes and condominiums saw year-over-year gains in October, driven by a rise in buyer activity across the state, according to the Massachusetts Association of Realtors (MAR) October market report. Last month, single-family home sales grew ten point eight percent from last year and condominiums rose two point nine percent. Meanwhile, the median sale price for single-family homes increased by three point five percent from September to $646,800, while condominiums rose two point nine percent to $535,000 from September to October.  Closed sales were also up, as single-family home closed sales rose ten point four percent in October while condos increased nine point two percent.  Listings, however, fell following September’s increase.

 In October new single-family home listings fell fifteen point six percent while condominiums fell eight point one percent. The report also noted that with median sale prices rising and inventory falling, sellers are in a strong position to enter the competitive market. “The increase we witnessed in closed sales in October is a promising indication of renewed buyer activity across Massachusetts,” said Amy Wallick, 2024 president of MAR and sales agent at Lamacchia Realty. “As we approach the last months of 2024, we encourage buyers to remain active in their search and, with limited new listings and strong buyer demand, sellers are well-positioned in this competitive market.”

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