Median Sale Price Rises 4.9 Percent

BOSTON, December 27, 2016 – There were 5,061 single-family homes sold in Massachusetts in November, compared to 4,015 in November 2015, a 26.0 percent increase. This marks the highest November sales amount since 1998 and the second highest in November on record. Year-to-date, sales are up by 12.0 percent with 55,622 homes sold through November 2016 compared with 49,663 sold during the same time last year.

The median sale price of a single-family home in November reached $349,000, a 4.9 percent increase from $332,500 last year. Year-to-date prices are up 1.8 percent from last year, with a median sale price of $346,000.

“Homes sales in 2016 continue to thrive,” said Timothy Warren, CEO of The Warren Group. “The gain in November single-family home sales was the first double-digit percentage increase since June. The slowdown in the second half of this year had us wondering about the direction of the market, but November sales were exceptionally strong.”

The number of condominiums sold in November increased by 24.3 percent, with 1,966 sold compared with 1,581 sold in November 2015. Year-to-date, condo sales have increased by 9.0 percent to 21,967 condos sold compared with 20,145 in the same timeframe last year.

The median sale price for condos in November reached $335,000, a 3.1 percent increase from $325,000 in the same month last year. Year-to-date, condo prices are up 4.0 percent with a median sale price of $330,000 compared with $317,147 in the same time period 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.