Warren Group: Single-family home sales rise in Mass.

AUGUST SALES of single-family homes in Massachusetts reached the second highest mark of the year, The Warren Group said this week. / BLOOMBERG FILE PHOTO
AUGUST SALES of single-family homes in Massachusetts reached the second highest mark of the year, The Warren Group said this week. / BLOOMBERG FILE PHOTO

BOSTON – August sales of single-family homes in Massachusetts reached the second highest mark of the year, The Warren Group said this week.

A total of 6,914 single-family homes sold in August, compared with 6,296 sold in August 2015, represents a 9.8 percent increase and trails only the June sales figures, when 7,387 homes were sold.

August sales haven’t been this strong since 1999, when single-family home sales reached 6,975. Year to date, sales climbed 14.2 percent, with 40,060 homes sold through August compared with 35,074 sold during the same time last year, The Warren Group said.

There was a 7.7 percent increase in Bristol County home sales with 490 homes sold in August compared with 455 sold in August 2015. Year to date, Bristol County sales skyrocketed by 41.3 percent with 3,184 homes sold compared with 2,254 sold last year.

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According to The Warren Group, the median sale price of a single-family home in August reached $364,900, a 1.6 percent increase from $359,000 last year. Year to date, prices rose 1.2 percent from last year, with a median sale price of $349,000.

Bristol County saw larger increases. The $292,500 median sale price of a single-family home in August was a 9.6 percent increase from $267,000 last August. Year to date prices increased 7.4 percent from last year, with a median sale price of $274,250.

Timothy Warren, CEO of The Warren Group, said this year has been spectacular for the Massachusetts real estate market.

“In fact we are at or near record levels in several categories. No August has had a higher median sale price for single-family homes since August 2005 when the median reached $370,000,” Warren said in a press release.

Condominium sales prices fared even better than homes. The $345,000 median sale price for condominiums in August is a 4.5 percent increase from $330,000 last August. Year to date, condo prices rose 3.1 percent with a median sale price of $330,000 compared with $320,000 in the same timeframe last year.

There was a 14.7 percent increase in the number of condos sold in August, with 2,792 compared with 2,433 sold in the same month last year. Condo sales year to date increased 8.6 percent to 15,822 compared with 14,565 sold in the same time period last year.

While Bristol County condominium sales spiked, the condominium median sale price dipped 5.3 percent, to $179,000 from $190,000 last August. The condominium year-to-date median sale price remained the same at $185,000. There was a 70.3 percent increase in condominium sales with 109 sold compared with 64 sold last year, and a 77.5 percent increase in year to date sales with 639 sold compared with 360 sold last year. 

 

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