March 2015 Housing Report for Massachusetts and Southern New Hampshire
April 23, 2015
The Lamacchia Realty Housing Report displays overall home sales statistics and average sales prices for single-family homes, condominiums, and multi-family homes for Massachusetts and New Hampshire from March 2015 compared to March 2014.
Massachusetts Home Sales down only 2% in March
Overall home sales in Massachusetts were down only 2% compared to March of 2014. Yes we said ONLY because it is incredible that sales were only down this much considering the incredible record breaking snow in February. There were a total of 4,419 homes sold in March 2015 compared to 4,509 in 2014. The average price among all sales was $369,783 up just over 6% from $348,788 last year.
Boston and surrounding towns experienced the worst of the snow impact, but other areas of the state such as Western MA and Cape Cod were not impacted as badly and they helped keep sales up. For example there were 338 Sales in Boston in March compared to 387 Sales in March 2014 which represents just over a 12% reduction in sales. Waltham is another city that experienced a much larger drop in Sales than the rest of the state. There were 24 home sales compared to 36 in March of 2014 which represents almost a 24% drop in Sales.
Southern New Hampshire Home Sales down again but Price are up!
Overall home sales were down 2% in March compared to March of 2014. There were a total of 640 homes sold in Southern New Hampshire compared to 656 in March of 2014. Home sales in Southern New Hampshire were down in February as well. The good news is prices were up to an average of $254,064 compared to $240,235 in March of 2014.
Multi Family homes saw the largest increase in the average sale price. The average sale price for a multi-family home in Southern New Hampshire was $306,004 compared to $216,450 in March of 2014. That is a substantial increase of over 40%!
Spring has Sprung!
Now that winter is behind us buyers are out in force and the good news is sellers are listing their homes now. From January 1st to March 31st there were 19,324 homes listed for sale in Massachusetts compared to 22,850 in the first quarter of 2014 which is a 16% decrease in homes listed. The snow is all to blame for this. Many brokers talked about this in a segment that Anthony was featured in last month that talked about how much the snow impacted the market. So far in April the market is beginning to catch up. From April 1st to 20th there were 8,491 homes listed compared to 7,761 listed in the same period of 2014. This is good news for home buyers as they will soon have more to choose from soon. Sellers should realize this frenzy will not last forever as Anthony explained on WBZ news last week.