Home sales down, prices up across Central Massachusetts in 2019
While the median price of sold homes increased again this year, the number of sales to date in Central Massachusetts is so far below the rate from last year, according to a new report.
As of October, the median sale price of a single-family home in the region was $290,000 for the year, up from $275,000 last October, according to the Warren Group.
From January to October, there were 7,192 home homes sold, down from 7,263 over the first 10 months of 2018, amounting to a 1% decline.
That trend was reflected in the region's condo sales as well: while the median sale price increased from $205,000 to $220,000, the number of condos sold through October dipped from 1,724 in 2018 to 1,665 in 2019.
The entire state saw both a decline in single-family homes and condos over the same period, according to the Warren Group. Single family home sales fell 1.4% from 2018, while condos dropped 1.2%.
But home prices have risen; the median single-family home sold for $400,000 so far this year, a 3.9% increase since last year, while the median condo price jumped 4.4% to $381,000.
The state's median single-family home sale price of $388,000 for the month of October marks an all-time high, the report said.
"And so, the record-setting continues," Tim Warren, CEO of The Warren Group, said in a statement. "The median single-family home price has reached new highs every month so far this year, and I fully expect this streak to continue for the remainder of 2019. The trend is a gradual increase in median price compared with the same month in the prior year."