Single family home, condo prices hit record high in June

Statewide, the average single family home price hit a record high of $395,000.

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Sales of single family homes in Worcester County increased almost 2 percent in June as home and condo prices statewide hit record highs.

According to new data from The Warren Group, 1056 single-family homes were sold in Worcester County in June, compared to 1036 the year before. Statewide, the average single family home price hit a record $395,000, up 6.2 percent from the year before, according to new data from The Warren Group.

Year-to-date, the median sale price for a single-family home in Central Massachusetts was $250,000, up just over 4 percent from June 2016, when the price was $239,463. Statewide, the median price jumped 6.3 percent over that same time period.

Condo sales in Worcester County were slightly down, from 246 in 2016 to 238 this year. The year-to-date median sale price for condos also fell slightly to $181,125 from $185,000.

The increasing sales price was driven largely by low inventory, according to The Warren Group.

“The fact that the median is just a hair under $400,000 is unprecedented, and perhaps worrisome,” said Timothy Warren, the group’s CEO. “The growth in the number of home sales has slowed due to the the fact that so few homes are for sale. Prices are being driven up, but are they sustainable?”