MetroWest home sales decline in August
Photo | Courtesy of Realtor.com
Home sales across MetroWest declined in August.
Almost every MetroWest town reported fewer home sales in August compared to the same month in 2021, a trend in line with Massachusetts as a whole.
The real estate market, which was off the charts last year and in the beginning of 2022, has slowed down in recent months, likely because of rising interest rates, according to The Warren Group, a Peabody-based real estate analysis firm.
As a result, the number of single-family home sales fell by 36.8% in Framingham, 30.8% in Natick, 12.5% in Westborough, 8% in Northborough, 38.2% in Hopkinton, and 23.5% in Southborough, according to The Warren Group’s latest monthly data, released Tuesday. Single family home sales did, however, increase in Marlborough by 5.9%.
Condo sales declined in August, by 60% in Marlborough, 10.5% in Westborough, 66.7% in Southborough, 44.4% in Framingham, 67.7% in Natick, and 60% in Hopkinton. Sales of condos were flat in Northborough last month.
Price changes varied. The median sale price of a single-family home in Framingham increased by 7.8%, but condo prices fell by 49.1%. In Marlborough, the median single-family home price dropped by 4.4% but the median condo price was up 42.6%. And the median home sale price in Westborough was up by 10.2% while condo prices increased by 4.3%.
WBJ Web Partners
Most Recent
Most Recent
0 Comments