Condo Sales Are Red Hot This Summer!

GSL Condo Stock PhotoCondo Sales Are Red Hot This Summer!

Single family home sales in Massachusetts, Rhode Island, and New Hampshire are on the rise once again this year. Record sales have driven the Massachusetts condominium market up 9% over last year’s figures! The median sale price in MA has been on the rise for 15 straight years, now over $360,000.

In New Hampshire, condo unit sales have increased by 17% since last year. So far, 2017 has reached record highs for sales in the condo industry, creating a very strong market for the summer.

The home values in Rhode Island followed a similar trend, rising by nearly 7% in the last year. This is expected to continue to rise by almost another 2% by year’s end. In the condominium market, sales rose for the fourth consecutive year. The number of closings reached 199 in May, an increase of 12.4 percent from the prior year. The median price was up 2.6 percent to $205,000. Here, too, listings have fallen. The number of active listings was 861 last month, compared to 923 in May 2016.