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Randolph, MA Home Sales, Prices Increase in July 2015

Sep 29, 2015 6:00:00 AM

T he median price and closed sales of single-family homes in Randolph, Massachusetts increased in July 2015, according to the Massachusetts Association of Realtors. 

The median price of a single-family house in July increased 13.7 percent to $295,000 compared to $259,500 in July 2014. Homebuyers on average paid 98.6 percent of the original list price.

Home sales in July increased 36.4 percent to 45 from 33 sales in July 2014. Pending sales – homes under agreement that have yet to close – increased 38.5 percent to 36 from 26 pending sales in July 2014.

Through July the median price of a single-family home in Randolph increased 7.8 percent to $274,750 compared with $254,950 during the same seven-month period in 2014. Homebuyers paid on average 96.5 percent of the original list price.

Home sales from January through July increased 8.2 percent to 158 from 146 sales during the same time frame in 2014. Pending sales increased to 187 through July, a 22.2 percent increase from 153 sales during the same period last year.

Randolph single-family real estate inventory decreased in July. There were 70 homes on the market in July 2014, but only 47 available homes this past July. The months supply of inventory declined 30 percent to 2.1 months from 3.0 months in July 2014. New listings increased from 26 to 36.

There were five condominiums sold in Randolph in both July 2014 and July 2015. The median price in July was $229,000, a 27.2 percent increase from $180,000 in July 2014. Homebuyers paid on average 102.6 percent of the original list price.

Through July the median condo price increased 64.5 percent to $213,900. Homebuyers paid 99.2 percent of the original list price during the same period. There were 31 condo units sold the first seven months of 2015, two less than the previous year.

Condominium inventory increased to 14 units from 10 units in July 2014. Months supply of inventory increased from 2.4 months in July 2014 to 3.1 months. New listings increased to seven from two in July 2014.
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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Randolph MA

   

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