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September Home Sales in Massachusetts Down 2%; Southern New Hampshire Home Sales Up 5%

September Home Sales in Massachusetts Down 2%; Southern New Hampshire Home Sales Up 5%The number of homes sold in September dropped 2% compared to September 2013. According to data provided by the Warren Group, there were 6,569 homes of all types (single-family, condo, multi-family) sold in September this year compared to last September when there were 6,711 home sales.

Sales for single-family homes were about the same as last year: 4,335 sold in September compared to 4,358 last September, a difference just 0.5%.

Condo sales, however, dropped almost 10% in September of this year compared to September last year, making it the third time this year condo sales didn’t increase compared to condo sales in the same month in 2013. In September there were 1,626 condos sold in Massachusetts compared to 1,800 sold in September 2013.

Just as we saw in August, multi-family home sales in September showed the only gain: 608 multi-family homes sold in September compared to 553 last September, an increase of 10%.

The average selling price for a home in September was $373,122, up 3% compared to last September, when the average price was $363,112.

Home sale prices were up 3% for all types of homes. The average price for a single-family home in Massachusetts was $413,750 up 1% compared to last September when it was $409,925. Condo prices were up 7% at $303,962, and selling prices for multi-family homes stayed flat at $375,020 compared to $369,859 last year.

Home sales and prices were both up in Southern New Hampshire (Cheshire, Hillsborough, and Rockingham Counties). There were 1,012 home sales of all types in September compared to 962 in September of last year, an increase of 5%. The average selling price for a home in Southern New Hampshire rose to $246,827, up 11% compared to last September last year when it was $222,687.

Last month we predicted September home sales to be down compared to last year, because the market has been slower than normal and inventory is now higher.  But we expect home sales to go back up this month. Last year the government shutdown had a negative effect on the housing market, so October home sales should be higher this year compared to October 2013.

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