PROVIDENCE – The median price of single-family homes sold in Bristol County, Mass., rose to $480,000 in March, a 14.3% jump over the same month last year, The Warren Group said Wednesday.
The median price of a single-family home in all of Massachusetts was $590,000 in March, a 7.4% increase from one year prior and an all-time high for the month.
There were 2,563 single-family home sales in Massachusetts last month, an increase from 2,769 in March 2023.
“Not surprisingly, Massachusetts median single-family home prices continued to set records in March,” said Cassidy Norton, associate publisher and media relations director of The Warren Group. “Despite the increase, we actually aren’t seeing the rapid, double-digit percent increases we were experiencing at the height of the pandemic and the subsequent months. Despite this slowdown, limited inventory will probably continue to be the biggest barrier to homeownership in the coming months.”
Condominium sales in Bristol County, Mass., totaled 51 in March, a 22.7% decrease from 66 in March 2023. Sale prices for a condo in the area increased 3% year over year to $325,000.
The median price for a condo for the entire state was $550,000, a 10% increase year over year and a new all-time high for March. Across the commonwealth, there were 1,431 condominiums sold in March 2024, compared to 1,520 in March 2023 – a 5.9% decrease.
“Last month, Massachusetts saw the fewest number of condo sales for the month of March since 2015,” Norton continued. “At the same time, the median condo price reached a new all-time high for the month of March. In fact, this is the first time the median condo price has surpassed $500,000 in the months of March ever, so a median price of $550,000 is pretty unprecedented.”