Bristol County, Mass., median home sale price rises 3.6% Y/Y in November

THE MEDIAN PRICE of single-family homes in Bristol County, Mass., sold in November was $430,000, a 3.6% increase 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 in Bristol County, Mass., sold in November was $430,000, a 3.6% increase over the same month last year amid declining sales, according to The Warren Group.

The median price of a single-family home across Massachusetts was $530,000 in November, a 3.9% rise from one year prior. Despite being a new all-time high median price for the month of November, this was the smallest percent increase on a year-over-year basis since June 2020.

Sales in Bristol County, Mass., totaled 290, a 35.3% decrease from 448 in November 2021. Statewide sales fell 29.4% year over year to 3,806.

“The significant drop in single-family home sales came as no surprise in November,” Tim Warren, CEO of The Warren Group, said in a statement. “A tightening inventory, higher interest rates, and economic uncertainties have had a big impact on consumer confidence, and real estate activity has taken a hit in recent months. The more important development is the slowdown in median price hikes. The 3.9 percent increase we saw in November was the smallest percent increase on a year-over-year basis since June 2020.”

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Condominium sales in Bristol County, Mass., totaled 80 in November, a 2.4% decrease from 82 in November 2021. Sale prices for a condo in the area increased 2.6% year over year to $315,000.

The median price for a condo in the state was $475,000, a 6% increase year over year and a new all-time high for the month of November. Total sales, however, fell 21.8% year over year to 1,663.

“The condo market followed very similar trends to the single-family market in November – a massive year-over-year decline in sales paired with a more modest increase in price,” Warren said. “It’s clear that neither market is immune from current economic conditions.”

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