Single-family homes and condos hit highest ever median sale price in Massachusetts

Massachusetts statewide median price for a single-family home was $372,000

This real estate market is on fire.  Prices have steadily been increasing, rates have been decreasing.  Whether you are looking to buy or sell, there is a great opportunity out there for you.

median priceThe Warren Group collects and compiles data on real estate sales and ownership throughout New England and they recently published statistics that this past June the Massachusetts statewide median price for a single-family home was $372,000, breaking the August 2005 record of $370,000, which is the highest monthly median in Massachusetts’ history.  They also stated that Condominium prices also hit a high, with a median price of $345,000 for the month.

The Warren Group chief executive Timothy M. Warren Jr. said that even with these prices, the housing market is not in a bubble, and that actually prices are reflecting strong demand and a very limited supply.

“Median prices are rising slowly. We’re not in a situation where prices are skyrocketing, at least not statewide,”

Some markets are accelerating much faster than others. Prices in communities in and around Boston are much higher.

“Areas like South Boston, Cambridge, Somerville, Jamaica Plain, Brookline—all those are areas where prices are probably rising a lot more rapidly,”

 

RELATED ARTICLE: Mass. home sales hit new price record in June – Boston Globe 7/26

This is really good news!

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  1. says

    I think it is insane that the prices hit that high for a single-family home. The real estate market really is on fire and seems that it won’t be cooling down anytime soon. It might even make a difference for a lot of people that are trying to buy and sell homes.

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