Bristol County, Mass., median home sale price increases 5.4% in August

THE MEDIAN price of single-family homes sold in Bristol County, Mass., rose to $490,000 in August, a 5.4% jump over the same month last year amid declining sales, according to The Warren Group.  / ASSOCIATED PRESS FILE PHOTO / ROGELIO V. SOLIS 

PROVIDENCE – The median price of single-family homes sold in Bristol County, Mass., rose to $490,000 in August, a 5.4% jump over the same month last year amid declining sales, according to The Warren Group.    

The median price of a single-family home in all of Massachusetts was $600,000 in August, a 6.2% increase from one year prior.   

Median sales prices for both single-family and condominiums across the commonwealth reached new all-time highs for the month of August as sales activity continued to decline, The Warren Group said Tuesday.  

Last month, there were 4,397 single-family home sales in Massachusetts, a 23.6% decrease from August 2022 when there were 5,753 transactions.

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“The hits keep coming for prospective homebuyers in Massachusetts,” said Cassidy Norton, associate publisher and media relations director of The Warren Group. “The shrinking single-family inventory continues to push prices to new highs. Couple this with the fact that interest rates are nearly double where they were a year ago, and the homebuying process is becoming more complicated – and expensive – for buyers.”

Condominium sales in Bristol County, Mass., totaled 71 in August, a 29.7% decrease from 101 in August 2022. Sale prices for a condo in the area increased 10.9% year over year to $340,000.

The median price for a condo for the entire state was $525,000, a 9.4% increase, a new all-time high for August.

“While year-over-year condo sales experienced a notable decline of 17.4%, a testament to the evolving dynamics of the real estate landscape, the median condo price tells a different story,” Norton said. “Historically, condos have been a more affordable alternative to single-family homes, but with median prices soaring to a new all-time high of $525,000 for the month of August, homeownership will continue to elude many buyers.”

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