Home Prices in Wareham, MA Flat First Half of 2016

The median price of a single-family home in Wareham, Massachusetts was flat during the first half of 2016, increasing just 0.9 percent to $231,500 from $229,500 during the first six months of 2015, according to data compiled by the Massachusetts Association of Realtors. 

Closed single-family sales increased 31.8 percent through June to 199 from 151 sales during the January-through-June period last year. Sales should continue strong over the coming months. Pending sales increased 35.4 percent through June to 256. Pending sales are properties that have a signed purchases and sale agreement, but have yet to close. Not every pending sale will close, but pending sales are a strong indication of sales over approximately the next 21 to 60 days.

Wareham, MA homebuyers paid on average 93.9 percent of the original list price during the first six months of 2016, a 2.2 percent increase from the same time frame last year.

In June single-family home sales increased 65.7 percent to 58 sales from 35 in June 2015, and pending sales spiked 70.7 percent to 70. The median home price in June declined 5.9 percent to $235,250, and homebuyers paid on average 94.4 percent of the original sale price. 

The number of single-family homes on the market declined 42.1 percent to 176, down from 304 homes for sale in June 2015. The months supply of inventory declined 58 percent to 4.7 months from 11.2 months. The number of new home listings declined 28.4 percent to 63 in June and declined 8 percent to 357 new listings through June.

There were just three condominium sales in Wareham during June, with a median price of $275,000. Twenty-one condos sold during the first six months of 2016 at a median price of $215,000. Condo inventory declined 26.7 percent in June.