Jul 9, 2024 - News
Boston-area home prices creep up again
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Home prices continue to rise in the Boston metro area.
State of play: Redfin captured the increase of home prices from January 2019, when the median price was $474,900, through this past May, when the median price reached $735,000.
Zoom in: The prices around Greater Boston are even higher.
- The median sales price for a single-family home reached $950,500, a record-high for the month of May, according to a report from the Greater Boston Association of Realtors.
- In May 2023, it was $900,000.
- The median sales price of condos was $715,000, a 1.2% drop from May 2023.
The priciest homes appeared in Central Middlesex County and Metro Boston, per GBAR's report.
Yes, but: The price increases haven't deterred homebuyers from closing on a house.
- More than 1,000 single-family homes sold in May, more than 9% up from May 2023 and up 6.5% year-to-date.
- Condo sales, however, declined 1.1% from May 2023 and 3.8% year-to-date.