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Here’s February 2014’s Monthly Indicators report from the Greater Boston Association of Realtors® ...
Buyer demand continues to be high, but a lack of homes for sale has resulted in a drop of closed sales in February 2014. Prices continue to move up because demand for available homes to buy is outpacing supply. Inventory continues to shrink from the same time the year before. What the market needs are homeowners to commit to selling to get us to full recovery and more building.
• February single-family home sales – Down 5.9% over last year.
• February Single-family median prices were UP 7.3% to $294,950. 17 straight months of increases.
• February condo sales UP 1% and median prices UP 9.1% ($283,000)
• Inventory in February Down 18.9% to 15,739 and Condominium available Down 27% to 4,407
• SF listings added to the market in February up 4.3% over last year. (4,742 from 4,547 in 2013)
• Condo listings added to the market Down 3.6% over last year. (1,861 from 1,930 in 2013)