Closed sales for both single-family homes and condominiums dropped year-over-year in October while median prices went up. In addition to the hike in median prices, October saw the lowest number of single-family homes and condominiums for sale in the month of October since MAR began reporting the data in 2004.
The number of single-family homes put under agreement in the month of October increased over last year while condominium sales saw a decrease. Seeing the increase of single-family homes put under agreement marks a full year of year-over-year increases. From October 2017, the median price for single-family homes and condominiums both saw a hike at five percent and four percent, respectively.
“In between apple picking and leaf peeping, home buyers found time this October to make offers on single-family homes in Massachusetts,” said 2018 MAR President Rita Coffey, general manager of CENTURY 21 Tullish & Clancy in Weymouth. “Prices remain close to that $400,000 mark despite the usual cooling off from the summer market.” Continue reading