As they say: Yikes.
From the Warren Group:
A total of 5,925 single-family homes sold in Massachusetts in August, up from 5,204 sales in August 2012. This is the third time sales have surpassed the 5,000 mark this year. Year-to-date sales are up more than 5 percent at 33,523, compared to 31,851 during the same period a year ago. …
The median price of a Massachusetts single-family home increased 10.6 percent to $340,000 in August, up from $307,500 a year earlier. …
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. …
The median condo price rose 14.7 percent in August to $319,950, up from $279,000 a year earlier.
No need to explain why this is happening, except to say:
File under: Low inventory, high demand
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Updated: January 2018