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Massachusetts home sales dip in November as prices rise

New Massachusetts Association of Realtors numbers show a particularly steep decline in condo sales

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Homes sales in Massachusetts declined annually in November as prices for both condos and single-families increased, according to the latest statistics from the Waltham-based Massachusetts Association of Realtors.

Sales of single-family homes were down 0.9 percent in November compared with the same month in 2017. Meanwhile, the median single-family price was up 4.1 percent, to $395,000.

As for condos, sales there were down a steep 11.7 percent in November, while the median price was up 1.4 percent, to $375,000.

The number of closed deals for both home types have been either down or flat for much of 2018, according to the realtors. And median prices have been up or flat for even longer. In other words: A tight market for prospective buyers—and a familiar one, reflective of not only escalating prices but a limited amount of homes for sale at most given times.

Indeed, the realtors’ stats showed annual declines in inventory in November for both single-families and condos.

“Being a homebuyer in November was like going to the supermarket to prepare for your Thanksgiving meal, but when you got to the store, there was almost nothing to buy,” Rita Coffey, the realtors association’s president and the general manager of CENTURY 21 Tullish & Clancy in Weymouth, said in a statement. “No matter how we describe it, this is a trend that will most likely continue until more homes are available for sale.”