Bristol County, Mass., home prices rise 10.7% Y/Y in September

THE MEDIAN PRICE of a single-family home sold in Bristol County, Mass. in September was $415,000. / AP FILE PHOTO/STEVEN SENNE

PROVIDENCE – The median price of a single-family home sold in Bristol County, Mass., in September was $415,000, a rise of 10.7% year over year, The Warren Group said Tuesday.

Statewide in Massachusetts, the median price of a single-family home increased 7.4% year over year to $509,000. Total sales in the state totaled 5,771 for the month, a decline of 10.4% year over year, despite having risen 14.7% from September 2019.

“The number of single-family home sales has now declined for three consecutive months,” said Tim Warren, CEO of The Warren Group. “This is the direct result of a few different factors. First, there just aren’t enough homes for sale in Massachusetts. Historically, prospective buyers would just expand the radius of their home search to find a market with less competition, but with more people working remotely, this tactic doesn’t work like it used to. Second, single-family homes have just gotten too expensive for a lot of buyers. The people who can afford homes already have them, while those with more modest budgets have been left with next to no options.”

In Bristol County Mass., sales of single-family homes totaled 508 in September, nearly level with one year prior.

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Condominium sales in the county totaled 102 for the month, a decline of 8.1% year over year. The median price of a condo sold in the area in September was $290,000, a rise of 12.8% year over year.

Statewide, condo sales declined 1.4% year over year to 2,471. Meanwhile, the median price rose 6.7% to $445,000.

“This is the first slip we’ve seen in condo sales in 2021 when examining transactions on a year-over-year basis,” Warren added. “Like single-family homes, every month there are fewer and fewer condos available on the market, which is limiting buyers and pushing prices higher.”

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