BOSTON – Single-family home sales declined 6.6 percent year over year to 4,727 sales in December, according to The Warren Group Wednesday.
The median price of a single-family home in December increased 5.6 percent year over year to $360,000.
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The Warren Group also said the sale volume was the lowest December sale volume since 2014.
“Following strong sales over the past six months, Massachusetts single-family home sales finally encountered a slow-down in December,” said Timothy Warren, CEO of The Warren Group, in a staement. “However, the notable uptick of the year-over-year median sale price continues to illustrate the unique dynamic between supply and demand. The well-publicized and long-standing shortage of homes listed for sale is finally starting to push prices upward.”
Year-to-date single-family home sales totaled 60,695 in December. Year-to-date, the median price of a single-family home increased 5.5 percent to $365,000.
Condominium sales in the Bay State declined 3.4 percent year over year to 1,896 in December, compared to 1,960 a year prior. The median price of a condo in December was $347,500, a 6.5 percent increase from December 2016’s $325,000 median.
Year-to-date condo sales increased 3.6 percent year over year to 24,860, while the median price of a condo increased 3.2 percent to $341,000.
Chris Bergenheim is the PBN web editor.
