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Acton, MA Home Prices Jump, Sales Slump First Half of 2022

Aug 5, 2022 8:55:22 AM

During the first half of 2022, the Acton, Massachusetts real estate market saw home prices increase, and sales decrease, while inventory remained tight in June.

Happy family sitting on sofa and using laptop, mobile phone and digital tablet at home in Acton, MAAccording to the Massachusetts Association of Realtors, the median price of an Acton single-family home jumped 17 percent during the first six months of 2022 to $955,000 from $820,000 during the same timeframe last year. In June, the median house price reached $990,000, a 14 percent increase from $871,500 year over year. Five years ago, in June 2017, the median price of a single-family Acton home was $645,500.

Homebuyers paid 114 percent of the original list price for properties closed in June, on average, and 112 percent during the first half of the year.

 

Related: Medfield, MA Median Home Prices Surpass $1 Million Through June 2022

 

Through June, sales of single-family homes fell 20 percent to 90 from 113 closed transactions during the first six months of 2021. There were 36 homes sold in June, four less than in June 2021. Pending sales – homes under contract that have yet to close – were down only one in June from a year ago to 29 pending sales.

There were 13 homes for sale in June, two more than June 2021; however, the number of months of supply remained below one month. Inventory only increased from about two weeks to three weeks.

Condominium prices rose only 2 percent through June to $376,000 from $369,000 during the same six-month timeframe last year. The median condo price jumped to $554,000 in June, a 52 percent increase, due partly to three units selling for more than $1 million and a couple of others north of $800,000. The median price of an Acton condo was $242,250 in June 2017.

 

Related: Medford, MA Single-Family Home Prices Up, Sales Down

 

Homebuyers paid, on average, 108 percent of the original list price for condominiums in June and 107 percent during the first half of the year.

There were 16 condominiums sold in June, an increase of two sales, and 54 units sold in the first half of 2022, an 18 percent decline compared to 2022's first six months. Pending sales dropped 35 percent in June to 13 pending sales from 20 in June 2021.

Two condos were for sale at the end of June, four less than June 2021. The number of months of supply was about one week, down from about two weeks in June 2021.

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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Massachusetts Association of Realtors, Acton MA

   

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