Median Price Spikes 9.34 percent
BOSTON, October 23, 2017 – Single-family home sales decreased last month to the lowest number recorded in the month of September since 2014, according to a new report from The Warren Group, publisher of Banker & Tradesman.
There were 5,376 single-family homes sold in September, slightly below the 5,582 in September 2016, marking a 3.69 percent decrease.
In contrast, the median sale price of a single-family home in September increased 9.34 percent to $362,200, up from $331,175 last year.
Year-to-date, single-family home sales fell 0.33 percent through September compared to the same period in 2016 (from 45,773 to 45,621), while the median price jumped 6.16 percent (from $341,175 to $362,200) over that period.
There were 2,177 condominiums sold in September 2017, compared to 2,293 last year – a decrease of 5.06 percent. The median sale price increased 1.79 percent, to $341,000.
Year-to-date condo sales were up 3.19 percent through September compared to the same period in 2016 (from 18,156 to 18,735), while the median price was up 3 percent over the same period (from $330,000 to $340,500).
“Dynamics of supply and demand dynamics are playing out across the state; supply remains at record lows and prices continue to rise as a result,” said Cassidy Murphy, editorial and media relations director of The Warren Group. “This will likely continue through the end of this year as sales slow in the fall and holiday seasons. Come the spring hopefully the supply of homes and condos for sale will increase and bring some stability, but for now, it’s definitely a seller’s market.”