THE MEDIAN HOME sales price in Wakefield is $866,000 according to the Warren Group.
WAKEFIELD — The 18 single-family homes sold in town last month fetched a median price of $866,000, according to the latest report from The Warren Group, a leading provider of real estate and transaction data.
The median sales price is $65,500 more than the median price of a single-family sold in Wakefield in May 2023.
Through the first five months of this year, 55 single-families have sold in Wakefield for a median price $783,000. According to the report, 51 single-family homes sold in Wakefield during the first five months of 2023 for a median price of $700,000.
Across the state, single-family home and condo sales increased 7.5 percent and 4.3 percent, respectively, in May as median prices reached new highs, according to The Warren Group.
Single-family homes
Last month, there were 3,887 single-family home sales in Massachusetts, a 7.5 percent increase from May 2023. Meanwhile, the median single-family sale price increased 7.9 percent on a yearover-year basis to $636,000, up from $589,450 in May 2023 – a new all-time high.
“Massachusetts single-family home sales surged by 7.5 percent year over year in May, marking the second consecutive month of increases,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “Remarkably, during the same period, the median sale price climbed almost 8 percent to reach an all-time high of $636,000. Typically, increased sales would temper price growth, but the pent-up demand from homebuyers is redefining market dynamics.”
Year-to-date, there have been 14,005 single-family home sales in Massachusetts, a 2.1 percent increase from the first five months of 2023. Meanwhile, the year-to-date median single-family home price increased 9.3 percent on the same basis to $590,000.
Condominiums
There were 1,922 condominium sales in May 2024, compared to 1,843 in May 2023 – a 4.3 percent increase. Meanwhile, the median sale price rose 4.6 percent on a year-over-year basis to $550,000 – a new all-time high for the month of May.
“Massachusetts condominium sales activity saw a robust uptick in May, with 1,922 units sold in May 2024 compared to 1,843 in May 2023, marking a 4.3 percent increase,” Norton added. “The market’s strength is further evidenced by the median sale price rising 4.6 percent year-over-year to $550,000, setting a new all-time high for the month of May.”
Year-to-date, there have been 7,016 condo sales, a 0.5 percent decrease from the first five months of 2023 with a median sale price of $530,000, a 6.0 percent increase on the same basis.
In Wakefield, five condos sold in May for a median price of $615,000.
Through the first five months of 2024, 20 condos have sold for a median price of $555,000.
Greater Boston single-family homes
There were 1,929 single-family home sales in the Greater Boston housing market in May 2024, which marked a 7.3 percent increase from May 2023 when there were 1,798 transactions. Meanwhile, the median single-family sale price increased 6.7 percent on a year-over-year basis to $800,000.
Greater Boston condominiums
In May, there were 1,423 condo sales, up from 1,362 sales in May 2023, marking a 4.5 percent increase on a year-over-year basis. Meanwhile, the median condo price rose 3.3 percent on the same basis to $635,000, up from $615,000 a year earlier.
