Connect with us

Massachusetts

Massachusetts housing trends: Homes, condos taken off market at faster rate than in 2024

Published

on

Massachusetts housing trends: Homes, condos taken off market at faster rate than in 2024


Though the median single-family home price continues to jump in Massachusetts, housing units are being taken off the market at a faster rate than a year ago.

The Bay State saw 2,136 single-family home sales in February, a rate that is 4.2% higher than the 2,050 transactions in February 2024, despite median prices rising 4.9% from the year before to $575,000, according to the Warren Group.

“In a continuation of trends set at the end of 2024, the number of single-family home sales and the median sale price are both up slightly from a year before,” said Cassidy Norton, Associate Publisher and Media Relations Director of the Warren Group.

Last year, the Massachusetts housing market recorded an all-time high for the median single-family home price as it reached $615,000, a 7.9% rise on a year-over-year basis.

Advertisement

If the first two months of this year are any indicator, prices could reach yet another all-time high as the median sing-family home sales spiked 5.5% to $580,000 in January and February, according to data the Warren Group published on Tuesday.

More than 4,765 single-family homes have been taken off the market so far this year, a 7% increase in the amount through the first two months of 2024.

Norton also noted that condominium sales followed broadly the same patterns as single-family homes, with 2,266 condos sold in the first two months of 2025, a 10.5% increase from 2024.

“The 10% year-to-date increase in sales may reflect an increase in inventory,” Norton said in a statement, “potentially illustrating a loosening in the market.”

In a report last week, the Massachusetts Association of Realtors highlighted how the median sales price for single-family homes decreased in February from January – the fourth consecutive month that costs have lowered from the month before.

Advertisement

Prices for single-family homes dropped by 1.6% to $600,000 and condominiums lowered by 4.5% to $534,950 from January, the MAR report indicates.

“Following a strong surge of new listings in January, February brought snowstorms and freezing temperatures, which delayed activity, with sellers remaining hesitant to put their homes on the market and buyers deterred from searching,” the report states.

“With the weather improving and median sales price decreasing,” the report adds, “it offers sellers the opportunity to put their properties back on the market and for buyers to enter a more active market.”

Massachusetts’ ongoing housing crisis remains at the top of mind for state policymakers.

Gov. Maura Healey released a “comprehensive housing plan” last month, outlining strategies to lower costs and build 220,000 new units over the next decade to mitigate the state’s ongoing housing crisis.

Advertisement

Strategies that could lead to a 7% increase in housing units statewide by 2035 include protecting, preserving and restoring affordable homes; providing direct subsidies and increasing access to homeownership for first-time homebuyers; preventing evictions and foreclosures; and working with employers on workforce housing needs.

“At the root of our challenge with the costs is a shortage of homes,” Healey said last month. “And it’s a shortage, as I say, that has built up over many years, as our state was not building the housing that we needed to keep pace with our economic growth.”



Source link

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Massachusetts

Noah Kahan Backs Massachusetts Bill Limiting Ticket Resale Prices

Published

on

Noah Kahan Backs Massachusetts Bill Limiting Ticket Resale Prices


Following similar legislature in his native Vermont, singer-songwriter supports “The Great Divide Act” combating speculative tickets, resale fees, and more

Noah Kahan has thrown his support behind a new Massachusetts bill aimed at capping ticket resale prices.

Advertisement

Like other states in recent weeks — including Washington, D.C. just a day earlier — Massachusetts Governor Maura Healey has announced “An Act Relative to Closing the Great Divide between Ticket Prices and Affordability” — or “The Great Divide Act,” named in part after Kahan’s latest LP — a bill that would limit ticket resales prices, bar speculative tiket sales, and cut down on some ticket fees.

Kahan, who previously backed a similar bill in his native Vermont and is fresh off four sold-out shows at Boston’s Fenway Stadium, appeared via video at Healey’s press conference Thursday.

“I heard about what you’re announcing today and I just wanted to let you know how excited I am about it,” Kahan said. “The artist community and fans will greatly benefit from limiting ticket scalping and the sales of speculative tickets. I love my fans and want to protect them however I can. Artists alone could not tackle the market manipulation of secondary resellers. So, thank you so much for making this a priority in Massachusetts.”

Trending Stories

Under the proposed Great Divide Act, concert tickets on the secondary market would be capped at 110 percent of their original face value, and secondary ticket sites would similarly only be allowed to take a 10 percent cut of resold tickets.

Advertisement

In the aftermath of the World Cup games at Gillette Stadium, where “speculative tickets” — or sellers offering tickets they don’t actually have — resulted in hundreds of people getting turned away from the soccer games, the Great Divide Act will also aim at prohibiting the practice. “Far too many Massachusetts residents have experienced the pain of being excited to buy tickets to see their favorite singer or sports team, only to realize that resale prices and fees have driven up the cost to outrageous levels,” Healey said Thursday. 



Source link

Continue Reading

Massachusetts

Springfield attorney named to 2026 Massachusetts Super Lawyers list

Published

on

Springfield attorney named to 2026 Massachusetts Super Lawyers list


SPRINGFIELD, Mass. (WWLP) – Springfield bankruptcy attorney Andrea M. O’Connor has been named to the 2026 Massachusetts Super Lawyers list.

According to the firm, Andrea M. O’Connor of Shatz, Schwartz and Fentin, P.C., has been named to the 2026 Massachusetts Super Lawyers list in the Bankruptcy: Consumer practice area, marking the fourth consecutive year she has received the recognition.

O’Connor’s practice draws on experience representing both debtors and creditors, serving as a Chapter 7 trustee and clerking for the U.S. Bankruptcy Court for the District of Massachusetts. The firm said she develops legal strategies tailored to her clients’ individual needs and goals.

Andrea M. O’Connor (Courtesy of Market Mentors)

O’Connor graduated magna cum laude from Western New England University School of Law, where she served as editor-in-chief of the Western New England Law Review. She is admitted to practice law in Massachusetts and Connecticut, as well as before the U.S. District Courts for Massachusetts and Connecticut, the U.S. Court of Appeals for the First Circuit, and the U.S. Court of Appeals for the Second Circuit.

Advertisement

Beyond her legal practice, O’Connor serves as chair of the Bankruptcy Section of the Hampden County Bar Association and is co-chair of both the Western Massachusetts Bankruptcy Conference and the MCLE Bankruptcy Conference. She also serves on committees for the U.S. Bankruptcy Court for the District of Massachusetts.

Before earning placement on the Massachusetts Super Lawyers list from 2023 through 2026, O’Connor was recognized as a Super Lawyers Rising Star each year from 2019 through 2022.

Super Lawyers is a peer-reviewed attorney rating service that recognizes lawyers in more than 70 practice areas. The organization says its selection process includes attorney nominations, independent research and peer evaluations.

Local News Headlines

Advertisement