Massachusetts Home Buyer Guide

Following a common trend throughout the state, Haverhill, Massachusetts home sales declined in November while median home prices increased, according to data compiled by the Massachusetts Association of Realtors. 

The number of single-family homes sold in November declined 12.1 percent compared to November 2013. There were 29 sales in November and 33 homes sold in November 2013. Pending single-family home sales increased to 30 from 20, a 50 percent increase.

Through the first 11 months of the year there were 343 single-family homes sold in Haverhill, MA compared to 366 homes sold during the same period in 2013, a 6.3 percent decline. Pending sales increased 5.4 percent to 392.

Single-family home prices increased in November and have risen through the first 11 months of 2014. The median price of a single-family house in Haverhill was $305,000 in November, up 23 percent compared to $248,000 in November 2013. Home buyers paid on average 94.8 percent of the original list price in November. From January through November, the median price increased 4.2 percent to $273,500 compared to $262,500 during the same 11-month period in 2013. On average, sellers received 95.6 percent of their original list price. 

Although inventory is tight in Haverhill as it is in other Greater Boston Area cities and towns, the situation may be improving with regards to single-family homes. There were 109 homes on the market compared to 110 in November 2013, and the months supply of inventory increased to 3.5 months from 3.4 months. New listings jumped 57.9 percent to 30 from just 19 new listings in November 2013. The average number of days on the market declined 31 percent in November. 

There were 16 condominiums sold in Haverhill in November, a 20 percent decline from the 20 units sold in November 2013. Condo sales increased 24.3 percent from January through November to 256 sold units compared to 206 unit sales during the same 11-month period. Pending condo sales increased 9.1 percent in November.

The median price of a condominium increased 27.6 percent to $183,750 in November. Through the first 11 months of the year, median condo prices increased 14.2 percent to $179,850 from $157,500 during the same period in 2013. On average, home buyers paid 93.4 percent of the original list price for condominiums. 

Condominium inventory declined 3.2 percent and months of supply dropped 23.6 percent in November; however, new listings increased 45 percent to 29 units.