PROVIDENCE – The Massachusetts single-family home price sale increased 8.7 percent year over year in April to $375,000, up from $345,000 a year ago, according to the Warren Group Wednesday.
The Bay State saw 4,157 single-family home sales, a 1.2 percent increase year over year. Year to date, 14,004 single-family home sales have closed in Massachusetts.
In Bristol County, Mass., there were 361 single-family homes that sold for an average of $300,000, 5.3 percent higher than $285,000 in April 2017.
“With the most recent median sale price increase, prices have now appreciated on a year-over-year basis for 25 consecutive months,” said Tim Warren, CEO of The Warren Group, in a statement. “There’s no clear indicator that price gains will slow down, and with buyers prepping for peak buying season, they shouldn’t expect any relief in the coming months.”
The average price of a Massachusetts condominium sold in April was $373,000, a 12.8 percent increase from $330,750 in April 2017.
Bristol County, Mass., condos sold for a median price of $215,000 in April, a 15.6 percent increase year over year from $186,000. There were 71 condo sales in the county in April, a decline from 74 the year prior.
“In March, Massachusetts condos were a significantly more expensive option for homebuyers,” Warren continued. “But with prices for both condos and single-family homes drawing almost equal in April, it will be exciting to watch the dynamic between the two property types moving forward.”
Chris Bergenheim is the PBN web editor.
