The RE/MAX Leading Edge January Housing Report reflects the blizzard conditions and more than 72 inches of snow that has fallen already this year. The sale of single family homes in Massachusetts decreased -4% year-over-year and condo sales decreased -12% year-over-year. Inventory continues to be a challenge despite the winter weather. Active single family homes dropped -17% year-over-year and condos fell -26% year-over-year. Prices continue to rise across the Commonwealth for the third consecutive month. Single family prices rose +4% year-over-year and condo prices rose +3% year-over-year.
“While the market experienced a strong finish in 2014, the frigid temps and accumulated snow has kept buyers and sellers at home and out of the real estate market,” said Linda O’Koniewski, CEO of RE/MAX Leading Edge. “When we turn the corner on the weather, we will see renewed activity in the market.”