Recently released Realtor.com data for May shows that prospective buyers and sellers in Norfolk County sold homes at prices slightly above the previous month’s median sales price of $710,000.
The median home sold for $713,000, an analysis of Realtor.com data shows. That means May, the latest month for which figures are available, was 0.4 percent higher than April.
Compared to May 2023, the median home sale price increased 5.6% to $713,000 from $675,000.
Realtor.com gets its sales data from property deeds, which results in a delay of several months in providing current data. The statistics do not include homes currently listed for sale and are not directly comparable to listing data.
For information on your local real estate market and other useful community data, visit data.patriotledger.com.
Looking only at single-family homes, the median sales price in Norfolk County in May was $768,000, down 0.3% from the previous month ($770,000). Since May 2023, the single-family sales price has increased 5.2%, from a median of $730,000.
During the month, 142 single-family homes sold for $1 million or more, compared to 433 recorded transactions of at least $1 million in May 2023.
The sales price of condos and townhomes increased 6.3% in May to a median of $570,000, up from $536,000 in April. Compared to May 2023, the sales price of condos and townhomes increased 12.9% from $505,000. 26 condos or townhomes sold for $1 million or more during the month, compared to 74 recorded transactions of at least $1 million in May 2023.
In May, the number of recorded sales in Norfolk County since May 2023 fell 71% from 2,130 to 618. All residential real estate sales totaled $587.9 million.
In Massachusetts, the median home price sold for $603,350 in May, up 3.1% from April’s $585,000. Statewide, 6,198 sales were recorded in May, down 59.2% from the 15,196 sales recorded in May 2023.
The total value of registered residential real estate sales in Massachusetts increased 25.6% from $3.8 billion in April to $4.8 billion in May of this year.
Of all residential real estate sales in Massachusetts, 19.12% of homes sold for at least $1 million in May, up from 13.78% in May 2023.
Single-family home sales prices across Massachusetts increased 4.2% from a median of $610,000 in April to $635,583 in May. Since May 2023, single-family home sales prices statewide have increased 17.6% from $540,321.
Statewide, the sales price for condos and townhomes increased 1.8% from a median of $525,312 in April to $535,000 in May. The median sales price for condos and townhomes increased 5.1% from the median of $509,200 in May 2023.
The median home sale price used in this report represents the average price of all homes or apartments listed during the specified time period. The median provides a more accurate picture of market trends than the average sales price, which would divide the sum of all sales prices by the number of homes sold. The average can be skewed by a particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave feedback or corrections to this story here. This story was written by Ozge Terzioglu.
