Mass. median single-family home price in June hits highest price in state history at $372K

IN BRISTOL COUNTY, Mass., the median price of single-family homes rose in June, as did the number of sales, according to The Warren Group. Single-family home prices climbed 9.8 percent to $285,000, while sales increased 70.4 percent to 576. / COURTESY THE WARREN GROUP
IN BRISTOL COUNTY, Mass., the median price of single-family homes rose in June, as did the number of sales, according to The Warren Group. Single-family home prices climbed 9.8 percent to $285,000, while sales increased 70.4 percent to 576. / COURTESY THE WARREN GROUP

BOSTON – The median sale price of a single-family home in June reached $372,000, the highest in Massachusetts history, surpassing the past record of $370,000 set in August 2005, The Warren Group said Tuesday.

The June median sale price increased 1.9 percent compared with June 2015’s median price. Year-to-date prices remained relatively flat, with a median sale price of $339,000, a 1.2 percent increase from the same period in 2015.
The median condominium sale price also hit a record at $345,000, a 4.5 percent increase from $330,000 in June 2015. Year to date, condo prices climbed 3.5 percent to a median sale price of $321,000, compared with $310,000 during the same six-month period last year.

The number of single-family home sold in Massachusetts in June rose nearly 15 percent to 7,387, from June 2015’s 6,430.
The Warren Group said this was the third-highest number of sales in a single month since 1987, the year it began its current method of data analysis.
Year to date, sales jumped 24.2 percent, with 26,941 homes sold in the first half of 2016 compared with 21,688 sold during the same time last year.
“Sales in Massachusetts are starting to hit their peak,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. “There have been double-digit percent gains every month for 13 straight months. The summer months are always the strongest for closings, with July usually the biggest month. Even with prices at record highs, homebuyers will still be out closing deals at a high rate.”
Condominium sales for the month rose 2.3 percent, with 2,828 condos sold compared with 2,764 sold in June 2015, marking the 13th consecutive month of increases in condo sales. Year to date, condo sales increased 14.3 percent, to 10,673 condos sold compared with 9,337 last year.
In Bristol County, the median price of single-family homes also rose in June, as did the number of sales. The same was true for condominiums.
Single-family home prices climbed 9.8 percent to $285,000, while sales increased 70.4 percent to 576. Condominium prices rose 8.4 percent to $196,450, while sales jumped 171.4 percent to 114.

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