“I remain concerned with the steady price increases across the state,” Warren says. “However, it seems the high prices aren’t shutting buyers out of the market – just yet. The market is benefitting from pent-up demand.”
In August, condominium sales statewide increased 2.5 percent. A total of 2,512 condos sold in August, up from 2,450 a year ago. This is the highest number of condo sales for any month since August 2007, when there were 2,965 transactions. Year-to-date condo sales are up almost 4 percent, rising to 13,604 from 13,057 during the same period last year. The median condo price rose 14.7 percent in August to $319,950, up from $279,000 a year earlier. The year-to-date median price of condos in the Bay State is $295,000, up more than 5 percent from $279,900 a year ago.
For more information, visit www.thewarrengroup.com.