BOSTON – Bristol County single-family home and condo values have risen since last March, The Warren Group said Tuesday.
Single-family home sale prices grew by 6.6 percent year over year to a median of $270,699, while condo sale prices rose to a median price of $186,000, an increase of 7.95 percent.
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Sales of single family homes in the county fell 5.2 percent over the year, to 328 from 346 in March 2016. Condo sales, however, increased in Bristol County, with 91 condos sold in March, a 44.4 percent increase compared with March 2016.
The Massachusetts median single-family home price reached $335,500 this month, a 6.5 percent increase from $315,000 in March 2016. This is only slightly below March 2007’s median of $340,000, among the highest peaks in the years leading up to the recession.
There were 3,943 single-family homes sold in the Bay State in March, compared with 3,701 in March 2016, a 6.5 percent increase year over year. A total of 1,853 condominiums were sold statewide in March, an increase of 23.6 percent over the year.
“Increasingly, we’re having to go back at least a decade to see sales and median prices at the level they’ve hit lately, and March is a perfect example,” Timothy Warren, CEO of The Warren Group, said in a statement. “As the spring market ramps up, we’re going to see these numbers climb, likely to levels at or even above those of the mid-2000’s.”
Chris Bergenheim is a PBN staff writer.
