The median sales price for single-family homes and condos sold in May broke $400,000, with condo prices hitting a new all-time high, according to the Massachusetts Association of Realtors.  Single-family home sales across the state were up 6.2 percent last month compared to May 2018, closing at a median price of $420,000.

That median price was 3.7 percent above last year. In the last 36 months, single-family prices have been up or flat in all but one month, MAR reported. In the condo market, sales grew 2.4 percent year-over-year, while prices rebounded 7 percent to a median of $413,000. “With median home prices over $400,000, you have to ask, ‘How much higher can they go?’,” said MAR President Anne Meczywor in a news release. 

“With inventory at all-time lows, it’s hard for first-time home buyers to find what they are looking for at a price they can afford.” Indeed, single-family inventory continued a downward trend compared to 2018. The state’s active listing count shrank 8.6 percent to just under 14,000 units by the end of May, while new home listings were down 1.8 percent. According to MAR, this marks the lowest number of homes for sale on record during the month of May. Condo inventory, on the other hand, increased …

McDevitt Real Estate Closing Attorney Services - Real Estate Law Massachusetts

Have a question about Real Estate Law or need a closing attorney?  Fill out the form below or call us at 617-282-7550.

We are conveniently located in Hingham and Milton, Massachusetts.

  Contact a McDevitt Law Group Real Estate Attorney today!


Article From: "Andrew Morrell"   Read full article

lawyers for real estate, Boston Massachusetts, arrow icon

McDevitt Law Group

Massachusetts Real Estate Attorneys
•   •   •

McDevitt Law Group strives to provide the highest quality real estate law and estate planning services, and we have for almost 40 years. As a small law firm, we pride ourselves on providing personal attention to your case and providing the highest quality representation. Call us today, or use the contact form below.

Barnstable County | Bristol County | Duke County | Essex County | Middlesex County | Nantucket County | Norfolk County | Plymouth County | Suffolk County

Just click on the Phone Number to dial on your phone:



lawyers for real estate, Boston

Pin It on Pinterest