Worcester County home sales followed a similar trend of rising home prices and declining sales as Massachusetts home sales reached new records in June.
According to Boston real estate data firm The Warren Group, the Central Massachusetts county saw single-family home prices increase 2.6% in June from June 2018, rising to a median price of $314,900 for an increase of 2.6%. For the year, median prices are up 3.7% to $280,000.
Sales were down 10% for the month and 2.5% for the year.
Worcester County condominium sale prices, however, declined 1% to $222,000 but are up 7.2% to $215,000 for the year from last year’s price at this point of $200,500.
Condo sales are down from both June 2018 and the first six months of last year, 15.2% and 7.5%, respectively.
The numbers for Central Massachusetts follow a statewide trend of rising prices and declining sales, pushing median home prices in the state to $429,000 last month and $395,000 for the year, both gains of 2.1% and 3.9%.
“The lack of supply in the Massachusetts housing market and its impact on prices has never been more evident,” said Tim Warren, CEO of The Warren Group, in a statement. “Last month, I observed that a lack of new listings on the market would continue to add upward pressure to single-family home prices. This appears to have played out and could continue to do so during the remainder of the summer.”
Even condominiums are reaching into the $400,000 mark, with June condo sales fetching a median price of $420,000, a 9.1% bump from June 2018.
Like single-family homes, a lack of inventory is keeping some potential home buyers from the market, as condo sales declined 11.8% in June and 4.0% for the year.
