The median price of a single-family home in Newburyport, Massachusetts increased 2 percent in 2014 to $515,000 from $505,000 in 2013, according to data compiled by the Massachusetts Association of Realtors.
Single-family house sales declined to 178, a 4.8 percent decrease from the 187 sales in 2013. Pending sales – homes under agreement that have not closed yet – decreased by 1.1 percent. New listings increased 7.1 percent in 2014. Newburyport home buyers paid on average 95.7 percent of the original list price for single-family homes sold last year.
The median price of a condominium in Newburyport increased 1.9 percent in 2014 to $330,000 from $323,750 in 2013. Condo sales jumped to 163, up 14.8 percent from 142 units sold in 2013. Pending sales were up 8.9 percent, and new listings were up 25.4 percent last year. Condominium buyers paid on average 96.2 percent of the original list price.
Newburyport real estate inventory remained tight. In December there was two months supply of inventory, a 17.7 percent decrease from 2.4 months supply of single-family inventory in December 2013. The number of single-family homes on the market declined 21.6 percent. On the other hand, condominium inventory increased 23.8 percent to 1.9 months supply of inventory.