PROVIDENCE – The median price of single-family homes in Bristol County, Mass., sold in April was $426,000, an 8.1% increase year over year, The Warren Group said on Tuesday.
The median price of a single-family home across Massachusetts reached an all-time new high of $560,000 in April, marking a 9.8% rise from one year prior.
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Sales in Bristol County totaled 318, a 9.1% decrease from 350 in March 2021. Statewide sales fell 14.8% year over year to 3,862.
“Under normal conditions, [the statewide all-time high] would be a reason to celebrate, but only if you currently own a home and you’re looking to sell and don’t need to buy a new home. With such limited inventory – not only across Massachusetts, but also across the country – finding that next place to live will prove to be challenging,” said Tim Warren, CEO of The Warren Group. “Meanwhile, as interest rates continue to increase, buyers will continue to expand their searches to more rural communities – adding even more competition in markets that have historically been more affordable.”
Condominium sales in Bristol County, Mass., totaled 92, an increase of 41.5% from the same month last year. Sales prices for a condo in the area increased 23.2% year over year to $295,750.
The median price for a condo in the state was $530,000, an 11.6% increase from a year earlier and a new all-time high. Total sales, however, fell 15.2% year over year to 2,534.
“The median condo price took off like a rocket in April,” Warren continued. “The double-digit increase on a year-over-year basis to $530,000 marked a new all-time high for condos. Meanwhile, the median condo price increased by more than 25% when compared to April 2020. As the spring and summer housing markets continue to heat up, it will be interesting to see where prices go from here.”
