Massachusetts Real Estate Updates

This page, along with our New Hampshire Real Estate Updates page,
will be updated continually to track market progress, so bookmark it to check back.

Market Report

Last Updated: 05/10/2021 – 2:16 PM

COVID-19 has impacted the real estate market mainly by causing substantially fewer sellers to list their homes for sale.   Below are some graphs that show the initial decrease in various market activities and then their recovery on a weekly basis.

HOMES LISTED PER WEEK

As illustrated, the number of homes listed for sale per week dropped dramatically at the end of March 2020 after the stay-at-home advisory was enacted. Though the number of homes listed did eventually catch up and even beat the previous year, inventory remains tight as there’s more demand than supply.

SNAPSHOT OF HOMES FOR SALE EACH SATURDAY IN MA

The graph illustrates the number of homes for sale every Saturday. 2020 was lower than 2019, and 2021 is off to an extremely low start.

 

SINGLE FAMILY INVENTORY

Single-family homes are the highest in demand and are therefore being purchased almost as quickly as their listed. As well, they’re not being listed as much as usual so the available inventory is very low in 2021.

HOMES PENDING PER WEEK

The number of homes placed under agreement (contracts accepted) dropped in the second week of March, when normally at that time pendings are increasing. The decline lasted until the second week of April, but has since gained steam. 2021 is off to a strong start.

HOMES SOLD PER WEEK

The graph illustrates the number of homes sold per week.

PERCENT OF PENDING HOMES OUT OF TOTAL INVENTORY PER WEEK

The percentage of homes placed under agreement at the beginning of 2020 was higher than any other year, meaning that inventory was so low because buyers were consuming inventory as soon as it became available, which is the sign of a very strong seller’s market.  2021 has aggressively beat 2020 so far.

AVERAGE SELLING PRICE PER MONTH

Prices for homes in 2020 are substantially higher than in previous years.  Prices increase when demand is high and supply is low.  This chart is updated in the middle of every month.

Click the link below to access our COVID-19 Real Estate Resources, COVID-19 Mortgage Resources, REAL SAFE Real Estate Initiative, and NH Real Estate Updates.