PROVIDENCE – The median sale price of a single-family home in Bristol County, Mass., in March was $385,000, an increase of 20.3% year over year, according to The Warren Group Thursday.
The median single-family home sale price in Massachusetts at that time was $460,000, a rise of 14.4% year over year and an all-time high for the month of March.
There were 338 single-family home sales in Bristol County, Mass., in March, a decline of 4.5% year over year. Statewide, there were 3,849 sales in the month, a rise of 2.5% year over year.
“Even though single-family home sales continued to increase on a year-over-year basis in March, the gains weren’t as robust as the ones we saw over the last six months,” said Timothy Warren Jr., CEO of The Warren Group, in a statement. “During that period, single-family sales increased by an average of 21.5% on a year-over-year basis every month. Only time will tell if this is the first indicator that the disparity between supply and demand is finally catching up to us. Simply put, there just aren’t enough single-family homes in Massachusetts to buy.”
Condominium sales in Bristol County, Mass., in March totaled 90, a rise from 69 one year prior. The county median condo sale price for the month was $270,000, a rise of 8% year over year and lower than the state median sale price of $440,550 at that time. Statewide condo sales totaled 2,260, a rise of 33% year over year.
“March condo sales experienced gains that eclipsed single-family sales, and the surging median condo sales prices indicated that there’s no shortage of demand,” Warren said. “The condo market was hit especially hard during last year’s lockdown, but as vaccines continue to roll out, colleges start to accept students back on campus and all the activities we know and love about urban centers like Boston, Cambridge and Worcester start to wake from their hibernation, the sky may be the limit for the Massachusetts condo market.”
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