The Greater Boston single-family and condo home markets saw record sales in October, according to a report by the Greater Boston Association of Realtors released Tuesday.
The 1,433 single-family homes sold last month reflected a 36.9 percent year-over-year increase in sales, while the median sales price rose to a new record for the month: $700,000. It was $593,000 last October.
In the condo market, 949 units sold, a 9.3 percent year-over-year increase, according to the report. The median sales price, $575,000, also broke records for the month. The median sales price in October 2019 was $549,700.
The multifamily home market saw a 6.4 percent increase in sales, with 198 properties sold.
The COVID-19 pandemic pushed the spring sales rush off to the fall. The prices reflect high buyer demand amid low interest rates and low inventory.
What are condos and single-family homes selling for in your area? Here’s the Greater Boston Association of Realtors’ breakdown for 64 communities:
Central Middlesex County
Acton, Bedford, Boxborough, Concord, Hudson, Lexington, Lincoln, Maynard, Stow, Sudbury, Wayland, and Weston
These communities saw a 15.5 percent increase in the median single-family selling price, from $730,000 in October 2019 to $843,500 in October 2020. Condo prices jumped 26.4 percent, from $370,000 to $467,500. Single-family homes spent an average of 39 days on the market. For condos, it was 41. The number of active single-family listings dropped 45.3 percent, while the number of condos on the market fell 29.8 percent. The number of single-family homes that sold was up 29.4 percent, while the number of condos that changed hands was down 7.5 percent.
Eastern Middlesex
Burlington, Malden, Medford, Melrose, North Reading, Reading, Stoneham, Wakefield, Wilmington, Winchester, and Woburn
These communities saw a 20.1 percent increase in the median single-family selling price, from $561,806 in October 2019 to $675,000 in October 2020. Condo prices rose 17 percent, from $434,500 to $508,500. Single-family homes spent an average of 21 days on the market. Condos were on for 31 days on average. The number of active single-family listings was down 28.2 percent, while the number of condos on the market slipped 1.8 percent. The number of single-family homes that sold rose a whopping 56.7 percent, while the number of condos that changed hands fell 10.5 percent.
Metro Boston
Arlington, Belmont, Boston, Brookline, Cambridge, Chelsea, Dedham, Everett, Milton, Newton, Revere, Somerville, Waltham, Watertown, and Winthrop
The median selling price for a single-family home climbed 12.7 percent, from $710,500 in October 2019 to $800,500 in October 2020. Condo prices slipped incrementaly, from $650,500 in September 2019 to $650,000 in October 2020. Single-family homes spent an average of 31 days on the market. For condos, that number was 42. The number of active single-family listings was down 5.2 percent, while the number of condos on the market jumped 53.3 percent. The number of single-family homes that sold soared 33.6 percent, while the number of condos that changed hands increased 10.7 percent.
Metrowest
Ashland, Dover, Framingham, Holliston, Hopkinton, Medfield, Medway, Millis, Natick, Needham, Sherborn, and Wellesley
The median selling price for a single-family home increased 23.5 percent, from $605,000 in October 2019 to $747,000 in October 2020. Condo prices rose even more, 24.9 percent, from $440,000 to $549,450. Single-family homes spent an average of 31 days on the market. For condos, it was 47. The number of active single-family listings was down a significant 40.9 percent, while the number of condos on the market dropped 27.1 percent. The number of single-family homes that sold was up 41.7 percent, while the number of condos that changed hands was up 20 percent.
Southern Norfolk County
Avon, Bellingham, Canton, Foxborough, Franklin, Mansfield, Norfolk, Norwood, Randolph, Sharon, Stoughton, Walpole, Westwood, and Wrentham
The median selling price for a single-family home rose 14.3 percent, from $480,000 in October 2019 to $531,500 in October 2020. Condo prices rose 11.3 percent, from $336,950 to $375,000. Single-family homes spent an average of 26 days on the market. For condos, it was 40. The number of active single-family listings plummeted 38.7 percent, while the number of condos on the market also fell, 25.9 percent. The number of single-family homes that sold was up 27.6 percent, while the number of condos that changed hands increased 29.3 percent.
City of Boston
The median selling price for a single-family home jumped 17.6 percent, from $659,000 in October 2019 to $775,000 in October 2020. Condo prices, however, decreased 6.9 percent, from $690,000 to $642,500. Single-family homes spent an average of 37 days on the market. For condos, it was 43. The number of active single-family listings was up 27.7 percent, while the number of condos on the market rose a whopping 51.1 percent. The number of single-family homes that sold increased 21.3 percent, while the number of condos that changed hands rose incrementaly, only 0.9 percent.
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