Massachusetts Home Sales and Prices Up

Massachusetts recorded increases in its housing sales and median sale prices, according to new data released by The Warren Group.

 

During October, the Bay State saw 5,224 single-family home sales, up 0.8 percent the 5,181 transactions one year earlier. The median single-family sale price increased to 3.5 percent on a year-over-year basis to $388,000, an all-time high for the month of October. Year-to-date, there have been 49,524 single-family home sales in the state, a 1.4 percent decrease from the first 10 months of 2018, while the year-to-date median sale price of $400,000 was a 3.9 percent increase over the same time period one year ago.

 

“And so, the record-setting continues,” said Tim Warren, CEO of The Warren Group. “The median single-family home price has reached new highs every month so far this year, and I fully expect this streak to continue for the remainder of 2019. The trend is a gradual increase in median price compared with the same month in the prior year. The increase in October was 3.5%, but over the first ten months of 2019, it was 3.9%. These are not huge gains, and in fact, the gains this year are lower than either of the two previous years.”

 

Also in Massachusetts during October, there were 2,119 condominium sales, up 10.6 percent from the 1,916 sales in October 2018. This marked the most sales in this sector during an October since 2006. The median sale price soared by 11.1 percent on a year-over-year basis to $370,000, an all-time high for the month of October. Year-to-date, there have been 20,526 condo sales, a 1.2 percent decrease from the same period in 2018, while the median sale price of $381,000 was a 4.4 percent increase from the first ten months of 2018.

 

“The condo market has been red hot so far this year, and October was no exception,” Warren continued. “Sales totaling 2,119 transactions marked the most condos sold in the month of October since 2006.”

---