Median price of a Bristol County, Mass., home increases 5.2% in 2018

THE MEDIAN price of a single-family home in Bristol County, Mass., increased 5.2 percent to $300,000 over the course of 2018. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE
THE MEDIAN price of a single-family home in Bristol County, Mass., increased 5.2 percent to $300,000 over the course of 2018. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE

PROVIDENCE – The year-to-date median sale price of a single-family home in Bristol County, Mass., increased 5.2 percent from December 2017 to December 2018 to $305,000, according to The Warren Group Wednesday.

In that time, the median sale price of a single-family home across the state rose 5.5 percent year over year to $385,000.

The number of sales in Bristol County, Mass., declined 3 percent in 2018 to 4,915. Statewide, sales declined 1.5 percent to 59,801.

The median price of a condominium in Bristol County, Mass., increased 7.3 percent in 2018 to $217,750. Sales declined 1 percent to 966 for the year. Statewide, condo sales declined 1.4 percent to 24,518 while the median price increased 7 percent to $365,000.

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“It’s no surprise that we saw a year-end sales decline and prices increase, as that was a common trend during the course of 2018,” stated Timothy Warren Jr., CEO of The Warren Group. “Every month last year, we saw home prices either increase or remain unchanged on a year-over-year basis. Meanwhile, eight out of the 12 months we saw home sales decline on a year-over-year basis.”

In December, the median price of a single-family home in Bristol County, Mass., was $300,000, a 5.3 percent increase year over year. Home sales declined 4.5 percent to 385 in the same period.

Condo sales in the county in December declined year over year to 68 from 82. The median price for a condo in December increased 6.3 percent year over year to $206,950.

In Massachusetts overall, single-family home prices remained the same at $360,000 on a year-over-year basis in December. The number of single-family home sales for the month declined 7.1 percent to 4,390.

Condo sales declined 7.7 percent year over year in December to 1,750. The median price for a condo in the Bay State was $358,000, 3.2 percent less than a year earlier.

“Condos proved to be a hot commodity during the course of 2018,” Warren said. “There were a few months during the peak 2018 home-buying season when the median condo price approached the $400,000 mark, which would have been a first. Perhaps 2019 will be the year where we finally see this happen.”

Chris Bergenheim is the PBN web editor. Email him at Bergenheim@PBN.com.

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