PROVIDENCE – The median price of single-family homes in Bristol County, Mass., sold in September was $440,000, a 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 $550,000 in September, marking a 7.8% rise from one year prior and all-time high for the month.
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Sales in Bristol County, Mass., totaled 385, a 25% decrease from 513 in September 2021. Statewide sales fell 16.2% year over year to 4,877.
“Single-family sales numbers took another hit in September as limited inventory, economic uncertainties and rising interest rates continued to weigh heavily on prospective buyers,” Tim Warren, CEO of The Warren Group, said in an Oct. 18 release. “In fact, this was the fewest number of single-family sales that we’ve seen in the month of September since 2014. The median sale price is showing a slowdown as well. Prices are still rising, but at a more moderate pace. Last year there were only three months in which prices failed to increase by double digits. This year, through September, the price increase has been in single digits for 6 months. The big question is whether we will see the median price decline in a future month.”
Condominium sales in Bristol County, Mass., totaled 72, a 29% decrease from 102 in September 2021. Sale prices for a condo in the area increased 12.7% year over year to $326,750.
The median price for a condo in the state was $461,000, a 3.7% increase year over year and new all-time high for the month of September. Total sales, however, fell 22.9% year over year to 1,922.
“The condo market has underperformed the single-family market in recent months, showing larger sales declines than single-family homes in every month this year,” Warren added.
