PROVIDENCE – Bristol County, Mass., single-family home sales declined in March as prices increased.
Home sales fell 1.2% year over year to 322 last month, while the median price of a home in the county increased 7% to $305,000, according to The Warren Group Wednesday.
Year to date through March, the median sale price of a single-family home in the county was $298,000 as sales of single-family homes grew 3.4 percent to 861.
The median price of a single-family home in Massachusetts in March was $377,000, a 6.2% increase on the year. Sales in the Bay State increased 0.6% year over year to 3,667.
“It’s not surprising to see the median single-family home price continue its upward trend,” stated The Warren Group Associate Publisher and Media Relations Director Cassidy Norton. “Demand remains high and inventory low; it will be interesting to see if supply will be able to keep up with demand as more sellers begin to list their homes in the coming months.”
Condominium sales in Bristol County, Mass., totaled 74 in March, a negligible decline from the previous year, while the median price of a condo increased 29.9% year over year to $223,500. Despite the sharp increase in March, the year to date median price through March in the county was $210,000, a 0.5% decline from the same point the previous year.
The median Massachusetts condo was sold for $360,000 in March, a 7.5% decline over the year. Sales in the state also decline 7.5% year over year to 1,716.
“Though the median sale price for condos declined on a year-over-year basis, it was compared to an uncharacteristically high spike in March 2018,” Norton said. “The local condo market has been bolstered by high-end units in the Greater Boston area in recent years. As the market works through its high-end supply, we could see a return to normalcy in the coming months.”
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
