Median Price Up For 17th Month
BOSTON, September 26, 2017 – Single-family home sales decreased in August for the first time since 2014, according to a new report from The Warren Group, publisher of Banker & Tradesman.
There were 6,759 single-family homes sold in August, slightly below the 6,930 in August 2016 for a 2.5 percent decrease.
The median sale price of a single-family home in August increased 4.1 percent to $379,900, up from $364,900 last year. This marks 17 consecutive months of year-over-year increases in median sale price.
Year-to-date, single-family home sales were up 0.1 percent through August compared to the same period in 2016 (from 40,166 to 40,244), while the median price jumped 4.9 percent (from $348,500 to $365,700) over that period.
There were 2,643 condominiums sold in August 2017, compared to 2,794 last year – a decrease of 5.4 percent. The median sale price dropped by 1 percent, down to $341,500.
Year-to-date condo sales were up 4.3 percent through August compared to the same period in 2016 (from 15,857 to 16,554), while the median price was up 3.2 percent over the same period (from $330,000 to $340,500).
“Our year-over-year sales were down for both property types to end the summer,” said Timothy Warren, CEO of The Warren Group, “and collectively, this summer had a handful less sales than that of 2016 – 20,511 compared to 20,562 over the three-month period.”