Home sales declined in June nearly 10% and condo sales plunged nearly 12% compared to last June as the median sale price for both homes and condos in Massachusetts soared to all-time highs.
Last month, the median home sale price rose 2.1% over June 2018 to $429,000, The Warren Group reported.
Over the first six months of 2019, home sales in Massachusetts are down 1.1% and the median sale price of $395,000 is up 3.9% compared to the first half of 2018.
"The lack of supply in the Massachusetts housing market and its impact on prices has never been more evident," Warren Group CEO Tim Warren said.
The median condo sale price in June was $420,000, and Warren said it was the second straight month that the median condo sale price was north of $400,000.
"While this isn't a total surprise, a $20,000 price hike on a month-over-month basis is truly unprecedented," Warren said.
Additional housing production has long been flagged as a way to give buyers and renters more affordable options, but production bills remain stalled at the Statehouse, where there's no consensus on how to move forward.
