BOSTON – The median sale price of a single-family home in Massachusetts set a record high for July, according to a report by The Warren Group Tuesday.
The median sale price in the Bay state increased 3.7 percent year over year to $382,500, marking 16 consecutive months of year-over-year growth. The number of single-family homes sold in July increased 0.7 percent year over year to 6,280.
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Year-to-date single-family home prices have risen 5.5 percent, while the number of sales also have increased 0.7 percent.
“Unsurprisingly, July’s median price surpassed all records for that month,” said Timothy Warren, CEO of The Warren Group. “Though substantially less than last month’s all-time high of $395,000, July’s price shows the same trend of an upward trajectory. Despite a low inventory of homes for sale, the market keeps climbing.”
Condominium sales in Massachusetts increased 1.6 percent year over year in July to 2,401, with a median sale price of $359,000 – also a record for July and an increase from a year earlier of 2.6 percent.
Chris Bergenhiem is the PBN web editor.
