February 2016 Housing Report - Massachusetts and Southern New Hampshire

The Lamacchia Housing Report presents overall home sale statistics and highlights the average sale prices for single-family homes, condominiums, and multi-family homes in Massachusetts and Southern New Hampshire for February 2016 compared to February 2015. It also looks at other metrics like Homes Listed and Pending, as they are often the best indicators for predicting future trends in the market.

Massachusetts Home Sales up 29%

Overall home sales in Massachusetts were up over 29% compared to February of 2015, while overall average prices fell 2%. There were a total of 4,484 homes sold in February 2016 compared to 3,473 in 2015. This is the ninth month in a row of increased home sales, following a January that started the year strong with sales up 28%.

The category with the largest increase in number of sales was single-family homes, up 32% in sales from 2015. Even condos, the category with the lowest increase in sales, was still firmly in the double-digits however, with number of homes sold increasing from 935 to 1,150, a rise of 23%.

The average price for all homes fell 2%, from $380,125 in 2015 to $371,378 in 2016. This loss was mostly felt in the multi-family home category, which saw average price fall 11%, from $443,035 to $393,650. The only category to see a rise in price was single-family homes, with a just-over 1% increase. The mild winter obviously had a large impact on home sales being up so much. Last winter’s record breaking snow fall very severely slowed down the real estate market.

For the rest of the report, including more stats and info on Southern New Hampshire, as well as a prediction for spring, visit our website here.