Single-family home prices in Mass. rise 5.7 percent

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Surprise, surprise. Massachusetts housing prices rose once again.

In May, the median price for single-family homes under agreement slid past $400,000 for the first time in 2018 and the third time in the past year, according to the Massachusetts Association of Realtors. Prices rose 5.7 percent, from $383,000 to $405,000.

The median price for condos under agreement rose 4.1 percent, from $370,000 to $385,000.

The number of pending sales of single-family homes and condominiums also increased. Pending sales for single-families went up 7.4 percent, from 6,725 last May to 7,226 last month. The condominium market saw a 5 percent increase, from 2,562 to 2,690.

“Buyer demand shows no signs of slowing down as we head into the busy spring and summer markets,” Rita Coffey, president of the Massachusetts Association of Realtors and general manager of Century 21 Tullish & Clancy in Weymouth, said in a statement. “We may see another summer of record-breaking prices if Massachusetts doesn’t find more inventory to feed this strong demand.”

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