June 29th, 2015

For Immediate Release

Local Home Sales Slow in May

Median Sale Prices Hold Steady the First Five Months of the Year Combined

(MERRIMACK & NASHOBA VALLEYS) — The Northeast Association of REALTORS® (NEAR) reported today that the combined sales of single-family homes in the 15 cities and towns from Boxford to Littleton in May 2015 had a median sales price of $335,000, a decrease of 9.5 percent compared with the median of $370,000 in May, 2014. The median sales price for condominiums sold in May was $205,000, unchanged from May of 2014. Multi-Family prices increased 5.3 percent, with a median of $294,950, compared to $280,000 in May of 2014. This report is based on data from MLS Property Information Network in Shrewsbury.

The combined sales of single-family homes in the 15 cities and towns from Boxford to Littleton in April totaled 257, which was 15.7 percent less than had been sold in May 2014. There were 119 condominium sales in May, compared to 144 in May 2014, which was 17.4 percent less than had been sold May 2014. 13.6 percent less multi-family homes were sold in May 2015 than were sold in May, 2014.

Commenting on the area’s home sales market, NEAR President Ryan Schruender said, “Low inventory and the harsh late winter pushed sales down in May.” Schruender added that, “Single Family, condominium and multi-family prices are seeing increases in price year-over-year. The spring market has been strong and will continue into June. Homeowners can list their homes for sale and take advantage of the increased prices in this current market, so it is a good time to contact a REALTOR®.”

The Northeast Association of REALTORS® is one of 1,500 local chapters of the National Association of REALTORS®. Officially, NEAR covers 15 cities and towns from Boxford to Littleton, though it has members from more than 50 cities and towns in the Merrimack and Nashoba valleys as well as southern New Hampshire. The term, REALTOR®, is a trademark for use exclusively by members of the National Association of REALTORS®, whose members subscribe to a strict Code of Ethics.

Editors and reporters:

For more info, contact NEAR Sharon Sarvela (978-577-6138 x15 or Sharon@NortheastREALTORs.com). For comment, contact NEAR President Ryan Schruender (978-869-6880 or rschruender@gmail.com).
Please note that the term REALTOR® is properly spelled with an initial capital R, per the AP Stylebook.

Closed Sales May 2015 vs. May 2014	# Sold May 2014	# Sold May 2015	Yr over Year Change	Median Price May 2014	Median Price May 2015	Yr over Year Change
Single Family	305	257	-15.7%	370,000	335,000	-9.5%
Condo	144	119	-17.4%	205,000	205,000	0.0%
Multi Family	44	38	-13.6%	280,000	294,950	+5.3%

Closed Sales Jan.-May 2015 vs. Jan.-May 2014	# Sold 2014	# Sold 2015	Yr over Year Change	Median Price 2014	Median Price 2015	Yr over Year Change
Single Family	1068	980	-8.2%	334,950	339,450	+1.3%
Condo	491	473	-3.7%	189,000	210,000	+11.1%
Multi Family	168	185	+10.1%	256,750	275,000	+7.1%