Massachusetts Home, Condo Sale Prices Set Record In August
STATEHOUSE, BOSTON, SEPTEMBER 25, 2019 (STATEHOUSE NEWS SERVICE) – The median home sale price in Massachusetts in August established a new high, but sales statewide are down 2 percent over the first eight months of 2019.
The Warren Group reported Wednesday that the median home sale price so far in 2019 is $402,000, up 3.1 percent over the same period in 2018. In August, the median home sale price was $420,000, a 4.7 percent increase over August 2018, and sales were down 3 percent.
August marked the third straight month of year-over-year sales declines.
"Everyone is trying to figure out if this is a sign of a slowing market or simply a lack of inventory," Tim Warren, CEO of The Warren Group, said in a statement. "I'm betting on a strong local economy and job growth to keep housing hot for another year."
Condo sales in August were roughly flat, with the median condo sale price surging 10 percent to $401,000, also an all-time high. Condo sales so far this year are down 3.2 percent compared to the same eight-month period in 2018.
Year-to-date home and condo sale purchase mortgages total more than $19 billion.