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Single-family, condos sales totals down at year-end.

PEABODY, MA, January 23, 2019 – The year-end median sale price for both single-family homes and condominiums reached all-time highs in 2018, as restricted inventories continued to push prices higher across the state, according to a new report from The Warren Group, publisher of Banker & Tradesman.

In December, there were 4,390 single-family home sales in Massachusetts, a 7.1 percent decrease from December 2017. The December median single-family home price was unchanged on a year-over-year basis at $360,000. Year-to-date, the median price rose 5.5 percent to $385,000 – an all-time high for any calendar year. During the course of 2018, single-family home sales declined 1.5 percent from 2017 with 59,801 transactions. This is the first time in three years that year-end sales failed to exceed 60,000 transactions.

“It’s no surprise that we saw year-end sales decline and prices increase, as that was a common trend during the course of 2018,” said Tim Warren, CEO of The Warren Group. “Every month last year, we saw home prices either increase or remain unchanged on a year-over-year basis. Meanwhile, eight out of the 12 months we saw home sales decline on a year-over-year basis.”

Condominium sales in December totaled 1,750 transactions, marking a 7.7 percent increase from December 2017. Meanwhile, the median condo price increased 3.2 percent to $358,000. Year-to-date, the median condo price rose 7 percent to $365,000 – an all-time high for condominiums for any calendar year. During the course of 2018, condo sales fell 1.4 percent from 2017 with 24,518 transactions.

“Condos proved to be a hot commodity during the course of 2018,” Warren continued. “There were a few months during the peak 2018 home buying season when the median condo price approached the $400,000 mark, which would have been a first. Perhaps 2019 will be the year where we finally see this happen.”

Customers use The Warren Group to identify new business opportunities through access to comprehensive real estate and mortgage data, analytics, and industry news coverage. The Warren Group 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. For more information visit