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Massachusetts Real Estate Updates

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.

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Last Updated: 08/10/2020 – 10:11 AM

HOMES LISTED PER WEEK

As illustrated below, the number of homes listed for sale per week dropped dramatically at the end of March after the stay at home advisory was enacted.

IMPACT OF COVID-19 TO REAL ESTATE SHOWINGS

SNAPSHOT OF HOMES FOR SALE EACH SATURDAY IN MA

The graph below illustrates the number of homes for sale every Saturday since the beginning of the year.

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.

HOMES SOLD PER WEEK

The graph below 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.

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 monthly.

June Average selling price MA

MONTHLY SINCE COVID-19

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