Mortgage Rates Remain Flat

November Real Estate Activity in Massachusetts Persists

November Real Estate Activity in Massachusetts Persists

Massachusetts Association of Realtors December 2020


Massachusetts Association of Realtors Press Release for November 2020

November Real Estate Activity in Massachusetts Persists
Buyers confidence fuels another month of growth

WALTHAM, Mass . – December 15, 2020 - The Massachusetts Association of REALTORS ® (MAR) reported today closed sales and new listings continued to climb in November. Compared to the same time last year, closed sales for single-family homes increased 15.7% and condominium sales increased 12.3%. In addition, 4,224 new single-family homes were listed (an increase of 16.1% over last year) and 1,747 new condominiums were listed (an 19.9% increase over last year). The median price for single-family homes last month was $480,000, an increase of 18.5% and condominium prices rose by 7.8% to $415,000, when compared to November 2019. Both median sales prices are a slight increase from October 2020.

In November, the Dow Jones Industrial Average topped 30,000 for the first time and mortgage rates reached new record lows again, both contributing to strong buyer confidence that is expected to continue through the end of the year. Inventory remains constrained in most market segments. Months supply of inventory* decreased 60.7% for single-family homes and 12% for condominiums.

“In addition to increased closed sales last month, we saw homes being scooped up more quickly than last year due to buyer demand that has spilled over into the late fall season. The continued uptick in activity is largely due to the delayed start in the spring, a shortage of inventory and extremely low-interest rates,” said Kurt Thompson, 2020 MAR President.


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Good News Story


“If we dream together, it can change our hearts.”

As the pandemic continues, six North Carolina choir groups have come together to craft a very encouraging musical video.

The Winston-Salem/Forsyth County Schools explains, The video includes an original song, “We Rise,” written by Adam Mitchell, the music teacher at Cash Elementary. The song is about how the community of musicians has come together to support each other during the pandemic.

The Kernersville Virtual Choir Project was organized by Mitchell and includes students from Cash, Piney Grove and Sedge Garden elementary schools as well as East Forsyth and Glenn high schools and the Heart of the Triad Choral Society. Singers range in age from 9 to 80 years old.

“This project took over 600 hours to write, arrange, learn, record, mix, master, and produce,” said Mitchell.  “Each singer learned and rehearsed the song during virtual rehearsals with their director. They then recorded audio and video on their own. After all of the recordings were complete, I compiled, mixed, and mastered the audio before sending on to the video production team to complete the video.”

Source: K-Love Website


Michael Mahoney
Boston area Realtor®
Affiliated with Century 21
MA. Lic.#9051300
Corp. Lic.#10046

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