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