The red-hot real estate market in Massachusetts may be cooling slightly, at least in this part of Southeastern Massachusetts.
Figures released by the Warren Group, which tracks real estate and mortgage data statewide, indicate that in April there were 4,517 single-family home sales in Massachusetts, a 21.1 percent increase from April 2020 when there were just 3,729 transactions.
In the communities covered by The Sun Chronicle, the results were not quite as dramatic, however.
Statewide, the Warren Group said, “compared to April 2019 (4,293 transactions), single-family home sales were up 5.2 percent. In April 2021, the median single-family sale price spiked 21.1percent on a year-over-year basis to $508,000,up from $430,000 in April 2020 and up 32.6 percent from April 2019,” the company said. “This is the first time ever that the median single-family home price has surpassed $500,000.”
Among area communities, sales activity appeared to be slacking off compared to the first months of the year and prices, while still showing growth, appeared to be leveling off.
In Attleboro, for example, home sales crept up only 7 percent, 30 in April compared to 28 in the same month a year ago. Year-to-date sales were actually down slightly, 116 compared to 104 for a decline of just over 10 percent. The median price for a single-family home in the city rose 9.2 percent from the previous April to $385,000.
Sales were also off in North Attleboro slightly, from 15 homes during April last year to 12 sold this April. Median cost dropped slightly, too to $440,000, a dip of less than 1 percent.
In percentage terms, Foxboro saw the biggest jump in sales from April 2020, from 10 homes to 18 last month for an increase of 80 percent. It also saw the sharpest median price rise in the area at $634,500 in April, a spike of nearly 37 percent over the same month last year.
The highest area median price for a home in April, however, was in a town where month-to-month sales and year-to-date sales slipped. Norfolk’s median price for a home was $745,450, an increase of 20 percent over the same month in 2020. Monthly sales figures fell in town from 15 to 12 and 42 to 34 in the same four month period.
Other area communities, though, also saw median sales prices over the half-million dollar mark. In Mansfield, the median price for the month was $575,000, in Rehoboth it was $550,000 and in Wrentham it was $549,900, a jump of nearly 44 percent, the sharpest spike in the area.