PROVIDENCE – The median price of single-family homes in Bristol County, Mass., sold in February was $399,450, an 8.5% increase year over year, The Warren Group said on Tuesday.
The median price of a single-family home across Massachusetts was $470,000 at that time, marking a 5.4% rise from one year prior.
Sales in the county totaled 250, a 9.1% decrease from 275 in February 2021. Statewide sales fell 14.7% year over year to 2,593.
“The median sale price for single-family homes continued its upward climb in February as inventory struggled to keep up with demand,” said Tim Warren, CEO of The Warren Group. “The Massachusetts Association of Realtors reported that inventory of single-family homes for sale was down 50% in January. New listings and pending sales were down as well. February was the eighth month in a row where the number of homes sold declined while the median price continued to rise. It is a familiar trend, one that is likely to continue unless sellers flood the spring market with new homes.”
Condominium sales in Bristol County, Mass., totaled 67, an increase of 26.4% from the same month last year. Sales prices for a condo in the area increased 27.4% year over year to $330,000.
The median price for a condo in the state was $440,000, a 5% increase from a year earlier. Total sales, however, fell 17.1% year over year to 1,212.
“The 1,212 condo sales we saw in February marked the fewest condo sales for the month since 2018,” Warren added. “We see the same pattern with the condo market as we see with single-family home sales. Inventory, new listings and pending sales declined, yet the median sale price continued to rise.”
