Let's check one more barometer of the Massachusetts housing market, shall we? Jennifer Athas at The Herald has stats for higher-end homes, and they show an ebb in demand: "The number of first-quarter sales in the upper end of the market—properties over $1.5 million—dipped by 17 percent compared to the same period last year, according to MLS data, with only 111 transactions compared to 134."
This comes as the Mass. housing market in general, particularly in the Hub, appears to have stabilized, though that's relative: Things are not as busy as they were pre-recession and prices, while not moving much, are basically the same as they ever were (all so boringly normal). Also, the spreads between listing prices and sales prices have narrowed, suggesting stability as either (a) sellers realize what they can really get or (b) buyers are putting in sound offers (or (c) both).
But does the dip in pricier homes signal a coming dip in the general market—you know, trickle down and all that? Nah. Brokers tell Athas (herself a broker) that the second-home market has picked up in places like the Cape.
· Mass. Home Sales Now in Full Bloom [Herald]
· Hub Housing Barometer: More Evidence It's All Boringly Normal [Curbed Boston]
· Is Boston's Housing Market Just... Normal? [Curbed Boston]