Saturday, November 28, 2020

Greater Boston Home Prices and Sales Broke Records in October




According to a report by the Greater Boston Association of Realtors released last Tuesday, The Greater Boston single-family and condo home markets saw record sales in October. 


The 1,433 single-family homes sold last month reflected a 36.9 percent year-over-year increase in sales, while the median sales price rose to a new record for the month: $700,000. It was $593,000 last October.

Meanwhile, the condo market boasted a 9.3 percent year-over-year increase, at 949 units sold. The median sales price, $575,000, also broke records for the month. The median sales price in October 2019 was $549,700.

The multifamily home market saw a 6.4 percent increase in sales, with 198 properties sold.

The COVID-19 pandemic pushed the spring sales rush off to the fall. The prices reflect high buyer demand amid low interest rates and low inventory.

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