Massachusetts Home Buyer Guide

Massachusetts inventory of single-family homes declined 13.2 percent in November and months of supply declined to 4.6 months from 5.3 months in November 2013, according to data compiled by the Massachusetts Association of Realtors.

There were 21,959 single-family homes available in November 2013, but only 19,068 homes were on the market this past November. November marked the 33rd straight month single-family inventory declined.

New single-family listings declined 9.7 percent. The average number of days on the market increased 7.4 percent.

The number of Massachusetts condominiums for sale in November declined 23.9 percent, and the months of supply dropped 22.9 percent to 2.7 months. Condo inventory has declined for 49 straight months. 

New condo listings in November decreased 3.3 percent.  Condos remained on the market, on average, 3.9 percent longer in November.

Sales of single-family homes and condominiums in Massachusetts declined in November compared to November 2013, but median prices increased.

There were 3,560 single-family homes sold in November compared to 3,817 sales in November 2013, a 6.7 percent decline. November marked the ninth time in the last 10 months that sales declined on a year-over-year basis.

The median price of a single-family house increased 4.4 percent in November to $330,000 from $316,000. Median prices have increased 25 of the last 26 months.

Condominium sales dropped 10.2 percent in November. There were 1,342 units sold in November compared to 1,494 condos sold in November 2013. Condo sales have declined six out of the last seven months.

The median price of a condominium increased 1 percent in November to $302,000. Condo prices have increased 17 out of the last 18 months.