PROVIDENCE – The median price of single-family homes in Bristol County, Mass., sold in January was $363,000, a 15.7% increase year over year, according to a report from The Warren Group released Wednesday.
The median price of a single-family in Massachusetts was $445,000 at that time, marking a 12.7% rise from one year prior.
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Sales in the county totaled 333, a rise from 286 in January 2019. Statewide sales rose 8.7% year over year to 3,824.
“The red-hot housing market showed no signs of cooling in January,” said Tim Warren, CEO of The Warren Group. “Momentum from the fourth quarter of 2020 clearly carried over into the new year. In fact, $445,000 marked the first time the median single-family sale price ever exceeded the $400,000 mark in January. As long as demand remains strong and supply remains limited, I fully expect additional records to be smashed in the coming months.”
Condominium sales in Bristol County, Mass., totaled 78, an increase of 44.8% from the same month last year. Sales prices for a condo in the area declined 9.1% year over year to $218,250.
The median price for a condo in the state was $400,000, roughly level with the price a year earlier. Total sales rose 10.9% year over year to 1,686.
“Demand in the condo market remained strong in January, which was largely driven by activity in Middlesex County, where sales increased by 28%,” Warren said. “The median sale price of a condominium in Massachusetts inched up and hit $400,000 in January. That is an all-time record for the month. It is possible that as COVID-19 vaccination efforts continue to roll out across Massachusetts, we will see additional interest in condos in more densely populated areas, which will only add fuel to the fire.”
