Massachusetts Home Buyer Guide

Single-family and condominium home sales in Massachusetts remained strong in August, increasing compared to August 2015, The Warren Group, publisher of Banker and Tradesman, reported September 27, 2016. 

Single-family home sales increased 9.8 percent to 6,914 in August compared to 6,296 homes sold in August 2015. August had the second most single-family home sales in 2016 behind only June (7,387 sales), and August 2016 had the most August sales since there were 6,975 homes sold in August 1999.  Through the first eight months of 2016, single-family home sales increased 14.2 percent to 40,060 homes sold compared to 35,074 sales during the same time frame last year. 

The median sale price of a Massachusetts single-family home in August reached $364,900, a 1.6 percent increase from $359,000 in August 2015. Through August median home prices increased 1.2 percent to $349,000 compared with the same eight-month period in 2015. August 2016 had the highest August median home price since August 2005 when the median price for a single-family house was $370,000. 

Through August the median price of a single-family house increased in every Massachusetts county except Hampden and Berkshire counties. Hampden County median home prices declined 1.4 percent, and home prices were the same in Berkshire County through the first eight months of this year and last year. Dukes County median home prices increased the most (13 percent) followed by Bristol County (7.4 percent). 

Condominiums sales increased 14.7 percent in August to 2,792 compared to 2,433 units sold in August 2015. Through August condo sales increased 8.6 percent to 15,822 compared to 14,565 units sold from January through August 2015.  

The median condo price in the Bay State increased 4.5 percent to $345,000 in August compared to $330,000 in August 2015. From January through August the median condominium price increased 3.1 percent to $330,000 compared to $320,000 during the same period in 2015.

Median condo prices declined through August in Berkshire (11.4 percent), Dukes (3.4), Franklin (14.7), Hampden (3.7), Nantucket (1.7), Norfolk (2.1) and Plymouth (0.2) counties. Condo prices were flat in Bristol County. Median condo prices increased 22.2 percent in Suffolk County and increased 15.6 percent in Barnstable County.