Do You Have $400,000 to Buy a Home in Massachusetts?
The Warren Group collects and compiles data on real estate sales and ownership throughout New England. According to the group, the median Massachusetts home sale price is a cool $400,000 over the first nine months of the year.
“The gain in the median price last month was the biggest monthly gain since March and the gain in sales of single-family homes is the first-time sales have actually increased since May. Until the economy hits a bump in the road, the real estate market in Massachusetts should continue to inch its way upwards.” - Tim Warren, CEO of The Warren Group, said in a statement.
Bristol County is among the top three counties with the largest increases in median home sale prices so far this year. Nantucket saw an increase of 9.1 percent, Franklin County came in at 7.8 percent increase, Bristol County had a 7.6 percent increase, and Berkshire County had a 7.6 percent increase.
Only five counties had a median home sale price registered below $300,000. Worcester came in at $290,000, with Hampshire at $282,250, Franklin at $220,000, Berkshire at $215,000, and Hampden with a shocking $205,000.
Of course, the median is only the middle number when listing home sale prices from the smallest value to the largest. So that means that there are still homes in Bristol County that would be priced well below the $400,000 median in the state.
I’m currently in the market for a home of my own and do not have $400,000 to spend on my first house. Maybe I'll luck out with a place in the $210,000 range.