Hopkinton leads rising MetroWest housing market, with 93% increase in prices
Photo | Grant Welker
A home for sale in Westborough
Home prices continued to rise to new levels throughout Massachusetts in April, with the median home price in the state passing $500,000 for the first time, according to Peabody real estate data firm The Warren Group.
Across Massachusetts, the median single-family home sale price increased 21.1% to $508,000, up from $430,000 in April 2020. While impressive, Tim Warren, CEO of The Warren Group warned a depressed market during the COVID-19 pandemic accentuates increases.
“On a year-over-year basis, the data indicates that single-family sales activity went gangbusters in April, but it’s important to consider the impact COVID-19, last year’s lockdown, and economic uncertainties had on activity in the second quarter,” said Warren in a press release. “To get a more apples-to-apples comparison, we took a look at activity to 2019. Sales were up 5.2% from April 2019.”
Among the communities with positive growth, Hopkinton was a standout. Single-family home prices were up in April by 92.8% to a median price of $935,000. However, condo sales, while increasing in number by 26.7%, did not see a huge price increase, remaining relatively flat with only a 2.6% increase in price to a median sale price in April of $694,255.
Framingham recorded a growth in number of sales, with 14.6% more single-family home sales in April, along with a 25% price increase driving the median single-family home cost to $580,000. Condo sales were up 60% in April, with 16 units sold, however prices were down 0.5% to $246,250.
Southborough’s home sales shot up 133% with 14 single-family homes sold in April, with home prices up 33.4% to a median price of $420,500. There were no condo sales in the community in April.
After a steady March, single-family home sales exploded in Marlborough this April, with 20 homes marking a 122.2% year-over-year increase, although home prices barely grew with a 1.7% increase to a median price of $457,500. Condo sales were up 7.7% to 14 units, but the median price fell by 18% to $291,250. This marks an ongoing trend for the city, with median condo prices down 27.1% year-to-date.
Westborough had constricted sales for the month, with 10 single-family homes sold and a median price in April of $543,750 accounting for a year-over-year increase of 0.7%. The city’s condo sales were up, with a 133% increase in sales compared to the previous April accounting for 7 units, but prices were down 63.3% year-over-year at a median sale price of $220,000.
Northborough reported modest gains, with a 10% increase in April sales compared to the same month in 2020 bringing total home sales to 11 with a price increase of 22.1% putting the median sale price at $505,000. And while condo sales were down to only three units, a 25% drop, those units sold for 25.1% more at a media price of $377,000.
Holliston recorded a 14.6% increase in median price for single-family homes in April, reaching a median of $590,000, however the number of sales fell by 25% to 12. Condo sales climbed 150% to five units with a median sale price of $548,135.
Natick saw a 9.1% decline in single-family home sales to 30 homes with an 18.1% increase in median price to $761,500. Condo sales were up 142.9% to 17 units at a median price of $531,000, or a 5.1% increase when compared to April, 2020.
Milford’s median sale price for single-family homes was up 12.3% to $438,000 in April with 20 home sales accounting for a 53.8% increase in inventory moved. Condo sales were also up with 10 units accounting for a 66.7% increase in sales although the median price only increased by 1.3% to $302,500.
Ashland had a 23.1% increase in the number of sales in April to 16 single-family homes with a modest 4.3% increase in sale price to a median transaction of $490,000. Condo sales were down 33.3% to eight units although the median price rose by 6.3% to $450,500.
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