BOSTON – Massachusetts single-family home sales declined 3.7 percent year over year in September, to 5,376, according to the Warren Group.
The median price of a single-family home sale in Massachusetts was $362,200 in September, a 9.3 percent increase year over year.
Year-to-date, single-family home sales declined 0.33 percent through September compared to September 2016. Sale prices, meanwhile, have increased 6.2 percent year over year.
“Dynamics of supply and demand are playing out across the state; supply remains at record lows and prices continue to rise as a result,” Cassidy Murphy, editorial and media relations director of The Warren Group, said on Monday. “This will likely continue through the end of this year as sales slow in the fall and holiday seasons. Come the spring, hopefully the supply of homes and condos for sale will increase and bring some stability, but for now, it’s definitely a seller’s market.”
Condominium sales also declined year over year in September, falling 5.1 percent to 2,177. The median price of a condo in Massachusetts was $341,000, 1.8 percent higher than September 2016.
Year-to-date condo sales in September increased 3.2 percent year over year to 18,735, with an average price increase of 3 percent to $340,500.
Chris Bergenheim is the PBN web editor.
