Why Were Single Family Sales Down in November?

According to the most recent market stats, single family sales were DOWN in November while the median price rose – especially in Greater Boston. This was due mainly to a continuing shortage of inventory in the marketplace. The Boston Herald published a story indicating this market stat in addition to the reduction of closed sales, going down 6.7%. Condo sales in the same market fell even more at a rate of over 10%.

Michael DiMella, managing partner of Charlesgate Realty, was featured in the article with his experience on where the market is at this time. “Even at these prices, what is available is being jumped on pretty quickly,” said Michael DiMella, the association’s president and managing partner of Charlesgate Realty Group in Boston. “We’re still seeing some multiple offers and bidding wars, although not as much.”

What do you think? Check out the complete collection of November market stats to analyze how things are doing in your neighborhood.