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Massachusetts Housing Market Sees Record-High Prices Despite Decreasing Sales

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Massachusetts Housing Market Sees Record-High Prices Despite Decreasing Sales

The latest report from The Warren Group reveals that both single-family homes and condominiums in Massachusetts reached new all-time highs in median sale price for the month of October. However, the number of sales for both types of properties declined significantly compared to the previous year.

Single-Family Homes:

  • Sales: 3,515 (16.9% decrease from October 2022)
  • Year-to-date sales: 34,182 (23.9% decrease from 2022)
  • Median price: $570,000 (10.6% increase from October 2022)
  • Year-to-date median price: $570,000 (3.6% increase from 2022)

Condominiums:

  • Sales: 1,562 (9.4% decrease from October 2022)
  • Year-to-date sales: 16,362 (19.7% decrease from 2022)
  • Median price: $500,000 (4.4% increase from October 2022)
  • Year-to-date median price: $515,500 (4.9% increase from 2022)

Key Takeaways:

  • While prices continue to climb, the number of homes sold has reached its lowest point for October since 2011.
  • Limited inventory and rising interest rates are making it more difficult for buyers to purchase homes in Massachusetts.
  • Condos offer a different kind of homeownership experience but are approaching a similar price point as single-family homes.

Greater Boston Market:

  • The Greater Boston area saw similar trends with decreasing sales and increasing prices.
  • Single-family home sales declined by 16.7% year-over-year, with a median price increase of 10% from $649,900 to $714,950.
  • Condo sales decreased by 9.3% year-over-year, with a median price increase of 3.6%.

 

This analysis was completed using available data from The Warren Group.

I’m playing 100 Innings STRAIGHT of baseball for ALS research

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Well, I am at it again for the 4th year this coming Columbus Day weekend with a good group of people for another go at 32-36 hours straight of playing baseball to raise money for ALS research. We watch the sun set and come up the next day for more baseball and hopefully good weather to help support research and the lives of others. As most know,I had a cousin, Patti, pass away from a battle with ALS, and through my fundraising journey and friends, I have met others who are both battling ALS and have lost loved ones. With your amazing help, I am currently up to approximately $5,000 raised this year and hope to keep it going. Please donate as little or as much as you can.

And feel free to come visit us at the field!

The 19th Annual 100 Innings Baseball Game will be held on October 8th – 9th at Adams Field in Quincy, MA. Batters will step up to the plate at 9:00 a.m. on Oct. 8th and will continue playing until 100 innings have been completed. This usually take about 33 hours!

The Angel Fund homepage

Thank you all very much,
Stephen

 

 

 

 

South Natick Charles River Dam update

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https://www.natickma.gov/1676/Charles-River-Dam

 

Owned and maintained by the Town, the Charles River Dam in South Natick is permitted through the Commonwealth’s Department of Conservation and Recreation (DCR) with required inspections once every two years. DCR has classified the dam as a High Hazard dam. Further, the most recent inspection completed by the Town identified some deficiencies in the dam that will need addressing in the coming years, requiring significant investment to either replace or remove the dam.

What is the Charles River Dam Advisory Committee?

At its February 24, 2021, meeting, the Town of Natick Select Board discussed a conceptual public engagement framework and timeline for making a decision about the future of the Charles River Dam in South Natick. The Board supported the creation of an Advisory Committee to help champion public engagement over the coming year.

The Charles River Dam Advisory Committee, was appointed by the Natick Town Administrator in May 2021. It is tasked with reviewing, discussing and evaluating the options of what to do with the dam and presenting its recommendation to the Select Board.

While the decision on how to proceed will ultimately rest with the Natick Select Board, with funding voted on by Town Meeting, Town Administration is committed to ensuring broad consultation and deep deliberation within the community to help inform the decision(s) the Town must make to address the future of the dam.

From May 2021 – June 2022, the Committee researched issues and jointly considered the implications related to possible options. This webpage documents the group’s research, including technical reports, community input, and presentations from issue experts on flooding and safety, ecology, history and culture, community use and recreation, and financial impacts.

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