There is some limited good news in the latest Massachusetts housing report from The Warren Group. Massachusetts single family home sales and condo prices are at new all-time highs in June. But while prices skyrocketed in some cases, actual number of sales decreased year over year by more than 20 percent.
Not only are the year to year numbers showing declines, year to date numbers are off as well. Statewide the latest figures show a drop of nearly 24 percent since the start of the year.
Single Family Home prices increased by another one percent. The median price is now more than 612 thousand dollars.
“Despite interest rates nearly double what they were this time last year, the Massachusetts single-family housing market broke another record in June,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “Last month, the median sale price of $612,250 marked a new all-time high for single-family homes. Just three years ago, single-family home sale monthly median prices were consistently below $500,000 and interest rates were hovering around three percent. Single-family homes in Massachusetts have never been less affordable.
Condo sales followed the same trend. Prices have increased across the state to more than 545 thousand dollars. But the number of sales was off by about 14 percent.
In Hampden County, in Western Mass most communities saw sales numbers decline as compared to the same reporting period of a year ago.
Agawam was off 34 percent but with a median price of 316 thousand dollars.
Chicopee was off from a sales perspective by just three percent. The median price there is 366 thousand dollars.
Springfield sales were off by just under three percent. The median sales price is 275 thousand dollars.
In Central Massachusetts:
Auburn saw an 18 percent drop in sales but the median price there is over 375 thousand dollars.
Dudley saw an increase in sales. The median price is 350 thousand dollars.
Leominster off 41 percent with a median price of 431 thousand. Worcester sales were off by 25 percent as well as prices there settle at about 409 thousand dollars .
On The Cape:
Barnstable saw a 50 percent increase in sales and a median price of 770 thousand dollars.
Falmouth was down by 35 percent but with a median price of 650 thousand dollars.
Officials says the increase in prices is being pushed by the fewer houses that are on the market.
(Photo by SAUL LOEB/AFP via Getty Images)
Photo: SAUL LOEB / AFP / Getty Images