June 2015 Housing Report
The Massachusetts housing market has exploded according to the RE/MAX Leading Edge June Housing Report. For the first time since 2014, sales of combined condo and single family homes in Massachusetts increased +8.9% year-over-year, while month-over-month sales increased +45.3%. Inventory is down -17.5% year-over-year but is up for the 4th consecutive month. The median price of combined condo and single family homes increased +2.2% year-over-year and +7.3% month-over-month, the 4th consecutive month of price increases.
“The housing market is keeping our agents busier than ever,” said Linda O’Koniewski, CEO of RE/MAX Leading Edge. “However, we are now experiencing what we call ‘buyer fatigue.’ With summer vacations now in full swing and buyers exhausted from competing with 10-12 offers on a property, sellers are now seeing fewer offers. We expect the market to heat up again in September so if you’re in the market for a new home, get in now before the rush in the Fall.”