BOSTON – Sales of single-family homes in Bristol County, Mass., increased 18.7 percent in July over their number a year ago, according to The Warren Group, slightly ahead of the year-over-year rate of increase shown across the Bay State.
The Boston-based real estate data tracker reported that the median sales price for single-family homes also increased, by 16.8 percent, to $262,900 in July, in comparison to the statewide price increase of 10 percent to $349,000.
“Many recent real estate reports have signaled a strong real estate recovery, and our numbers speak to that rebound,” said David Harris, editorial director of The Warren Group, publisher of Banker & Tradesman. “While consumer confidence and strong employment numbers continue to bolster the market, there’s concern that higher mortgage rates and increasing home prices could dampen the revitalized market.”
Year to date, the number of single-family homes that have sold in Bristol County has increased over the same 2012 period by 13.8 percent to 1,875, well ahead of the sales gain of 3.6 percent across the state.
Condominium sales have shown strength this year as well, with a gain of 27 percent through July in Bristol County (including a July sales increase of 54.8 percent). The statewide condo sales gain was more muted, at 4.6 percent through July and at 16.9 percent for the month.
The median price of condos increased 7.8 percent in July to $180,000. Year to date, the median sale price in the county has increased 22.2 percent to $165,000. Across the state, the median sale price gained 5.5 percent in July to $310,000, while so far this year it has increased 3.6 percent to $290,000.
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.