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The Lamacchia Monthly Housing Report highlights home sale statistics, average sales prices, the number of homes listed and pending as well as price changes for single-families, condos, and multi-family homes in Massachusetts. For New Hampshire, it presents home sale statistics and average sales prices. These factors, when compared year over year, are all indicators for predicting future trends in the market.

Highlights

Massachusetts Home Sales Down 9.4%

Sales are down 9.4 percent year over year with January 2022 at 5,611 over 6,193 last January. Single family, condo and multi-family sales have all dropped year over year.

  • Single families:    3,824 (2021) | 3,509 (2022)
  • Condominiums: 1,686 (2021) | 1,442 (2022)
  • Multi-families:    683 (2021) | 660 (2022)

Average prices have continued their rise with another year over year increase of 11.2%, now at $581,338. Prices increased in every category.

  • Single families:    $587,399 (2021) | $640,294 (2022)
  • Condominiums: $384,302 (2021) | $464,030 (2022)
  • Multi-families: $588,538 (2021) | $619,002 (2022)

Homes Listed for Sale

There were 17.8% fewer listings this year compared to last January 2021 which illustrates how the beginning of this years market is very competitive for buyers.

  • 2022 – 4,641
  • 2021 – 5,643
  • 2020 – 6,134

Pending Home Sales:

The number of homes placed under contract is down by 17.8% when compared to January 2021.  This indicates that sales next month may also be down as contracts accepted is correlated to future closed sales.

  • 2022 – 4,893
  • 2021 – 5,949
  • 2020 – 5,904

Price Changes

Price changes decreased by 46.5% year over year. Sellers are still able to name their price relatively speaking. If you are a seller who hasn’t been able to sell within a few weeks and it is being marketed properly, the price is the first thing to consider adjusting.

  • 2022 – 147
  • 2021 – 275
  • 2020 – 372

New Hampshire Home Sales Down 14%

Highlights

Single family and condos sales have decreased by 15.7% and 16.9%, respectively. However, multi-family home sales have increased by 17.4% in NH when compared to January 2021.  

  • Single families:    1,025 (2021) | 864 (2022)
  • Condominiums: 338 (2021) | 281 (2022)
  • Multi-families:   86 (2021) | 101 (2022)

Prices overall will continue to increase, now up 20.7% to $449,625. However, there was a decrease of 6.6% in the price of multi-family homes in NH year over year.

  • Single families:    $396,914 (2021) | $483,856 (2022)
  • Condominiums: $286,798 (2021) | $365,406 (2022)
  • Multi-families: $418,539 (2021) | $391,104 (2022)

As you can see in MARealEstateUpdates.com and NHRealEstateUpdates.com, our pages monitoring the progress of the market, the market is trying to catch up to where it would have been had COVID not put a massive wrench in the works, but it’s not quite there yet. 

Data provided by Warren Group & MLS PIN for MA, and by NEREN for NH then compared to the prior year.