Sales Reach Second Highest Mark of the Year
BOSTON, September 27, 2016 – There were 6,914 single-family homes sold in the Bay State in August, compared to 6,296 in August 2015, a 9.8 percent increase. The August total makes the month the second best sales month all year, trailing the month of June when 7,387 homes were sold. In fact, August sales haven’t been this strong since 1999, when single-family home sales reached 6,975. Year-to-date, sales are up by 14.2 percent with 40,060 homes sold through August 2016 compared with 35,074 sold during the same time last year.
The median sale price of a single-family home in August reached $364,900, a 1.6 percent increase from $359,000 last year. Year-to-date prices are up 1.2 percent from last year, with a median sale price of $349,000.
For condominiums the August median sale price hit $345,000, a 4.5 percent increase from $330,000 in the same month last year. Year-to-date, condo prices are up 3.1 percent with a median sale price of $330,000 compared with $320,000 in the same time period last year.
The number of condos sold increased by 14.7 percent in August, with 2,792 sold compared with 2,433 sold in August 2015. Year-to-date, condo sales have increased by 8.6 percent to 15,822 condos sold compared with 14,565 in the same timeframe last year.
“All of 2016 has been spectacular for the Massachusetts real estate market,” said Timothy Warren, CEO of The Warren Group. “In fact we are at or near record levels in several categories. No August has had a higher median sale price for single-family homes since August 2005 when the median reached $370,000.”
AUGUST HOME SALES PODCAST
Timothy Warren Jr., CEO of The Warren Group, discusses this month’s residential sales for Massachusetts in this podcast
To see a county-by-county breakdown of single-family home and condo sales click here
To see town-by-town statistics for single-family home and condo sales click here