August 13, 2018

Home sales up despite high prices

PHOTOS/GRANT WELKER
A 15-home second phase of the Wachusett Valley Estates is now being built off Bullard Street in Holden, a town among those adding the most new housing in Worcester County.

Single-family homes placed under sales agreements in July were up nearly 15 percent compared to July 2017, and the median sale priced remained at more than $400,000 for the third consecutive month, according to new data.

The Massachusetts Association of Realtors also reported Thursday morning that condo sales agreements reached in July were up 14 percent over July 2017, with the median prices of such agreements last month at nearly $399,000.

The association's market and price indexes are both down from last July, the market index by 7.5 percent and the price index by 11.5 percent. Officials say that's due to prices north of the $400,000 mark and a lack of inventory.

"The reality of a low inventory market is that there may not be a home for you to move into right after you sell," Rita Coffey, association president, said in a statement. "Understandably, many sellers are uncomfortable with that and are concerned about their prospects of finding a suitable new home."

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