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By PBN Staff
BOSTON – Single-family home sales in Bristol County, Mass., jumped 26.34 percent in April compared with the same period in 2012, The Warren Group said Wednesday.
The real estate data firm reported 259 houses sold in the county last month, up from 205 in April 2012.
Along with the 26.34 percent increase in sales, the median price of Bristol County single-family homes rose 13.95 percent year over year in April to $245,000, compared with $215,000 in April 2012.
Statewide, single-family home sales dropped 1.04 percent in April, the third consecutive monthly year-over-year sales decline after 14 months of increases.
“There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume,” Timothy M. Warren Jr., CEO of The Warren Group, said in prepared remarks. “Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence.”
Even as the number of homes sold in Massachusetts fell in April, the median sale price of single-family homes sold rose 13.82 percent from $275,000 in April 2012 to $313,000 in April 2013.
“The housing market continues to improve, but could be hindered if rising prices cause an affordability issue. Three consecutive months of double-digit price increases is slightly concerning,” Warren added.
In other areas of the market, Bristol County condominium sales rose 38.89 percent in April compared with the same period in 2012. There were 50 condominiums sold in April, up from 36 during the same month last year.
The median price of Bristol County condominiums sold in April was $149,250, a 6.61 percent increase from the same time last year.