Median Sale Prices Rise 3.0 Percent
BOSTON, October 25, 2016 – There were 5,588 single-family homes sold in Massachusetts in September, compared to 5,436 in September 2015, a 2.8 percent increase. This is the largest amount of sales September since 2005, and is the fifth straight month with at least 5,000 homes sold. Year-to-date, sales are up by 12.7 percent with 45,648 homes sold through September 2016 compared with 40,510 sold during the same time last year.
The median sale price of a single-family home in September reached $340,000, a 3.0 percent increase from $330,000 last year. This is the lowest median sale price recorded in five months. Year-to-date prices are up 1.4 percent from last year, with a median sale price of $347,330.
“2016 has been an outstanding year for sales,” said Timothy Warren, CEO of The Warren Group. “Though we’ve got three more months left in the year it appears that we could see 2016 sales of single-family homes reach the 2015 level of 60,523.”
For condominiums the September median sale price reached $335,000, an 11.7 percent increase from $300,000 in the same month last year. Year-to-date, condo prices are up 3.9 percent with a median sale price of $330,000 compared with $317,750 in the same time period last year.
The number of condos sold in September increased by 11.4 percent, with 2,293 sold compared with 2,059 sold in September 2015. Year-to-date, condo sales have increased by 8.9 percent to 18,115 condos sold compared with 16,624 in the same timeframe last year.
Customers use The Warren Group to identify new business opportunities through access to comprehensive real estate and mortgage data, analytics, industry news coverage, networking, and education opportunities. Based in Boston, the company was established in 1872 and is now in its fourth generation of family ownership and management. It is the publisher of Banker & Tradesman, The Commercial Record and Registry Review and architect behind some of the leading events and conferences for banking, legal, and real estate professionals in all of New England. For more information visit www.thewarrengroup.com.
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