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Boston home sales grow in August

by Michael M. Mazek

Sales of single-family homes and condo units around greater Boston grew in August compared to the same month a year ago. Home sales increased 3.3 percent to end the month at 1,679 units sold, at a median price of $625,000. Condo sales grew by 4.5 percent for a total of 1,244 units, and at a median price of $573,778. Prices for either type of property fell from July but were higher on an annual basis.

According to the Greater Boston Association of Realtors, the month marked the fourth-best August on record in terms of total home sales. The median sales price was also the highest on record compared to any other August data.

The supply situation across the city notched some improvement but continued to run tight. The number of active single-family home listings fell 7.3 percent annually and 12.1 percent from last month. New listings of single-family homes were also flat on the year or down from July. But the average time those listings spent on the market grew 10 percent, from 39 days in July to 43 in August. Year-to-date, the number of new listings to appear on the market in Boston is so far this year is up 1.7 percent from 2017.

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