August was the second best single-family home sales month in the Bay State all year, with 6,914 homes sold, compared to 6,296 in August 2015 – a 9.8 percent increase.

The August total trails the month of June when 7,387 homes were sold. August sales haven’t been this strong since 1999, when single-family home sales reached 6,975. Year-to-date, sales are up by 14.2 percent with 40,060 homes sold through August 2016 compared with 35,074 sold during the same time last year.

The median sale price of a single-family home in August reached $364,900, a 1.6 percent increase from $359,000 last year. Year-to-date prices are up 1.2 percent from last year, with a median sale price of $349,000.

For condominiums the August median sale price hit $345,000, a 4.5 percent increase from $330,000 in the same month last year. Year-to-date, condo prices are up 3.1 percent with a median sale price of $330,000 compared with $320,000 in the same time period last year.

The number of condos sold increased by 14.7 percent in August, with 2,792 sold compared with 2,433 sold in August 2015. Year-to-date, condo sales have increased by 8.6 percent to 15,822 condos sold compared with 14,565 in the same timeframe last year.

“All of 2016 has been spectacular for the Massachusetts real estate market,” Timothy Warren, CEO of The Warren Group, said in a statement. “In fact we are at or near record levels in several categories. No August has had a higher median sale price for single-family homes since August 2005 when the median reached $370,000.”

August Single-Family Homes Sales Remain Strong

by Banker & Tradesman time to read: 1 min
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