WAKEFIELD  —  The town’s housing market outperformed those in other parts of the state last month, according to the latest report from The Warren Group, a leading provider of real estate and transaction data.

While single-family home sales declined statewide in June, compared to the same month last year, things were better in Wakefield. Twenty nine single-families sold in town last month a median price of $843,000. During June 2023, 23 single-families sold here for a median price of $750,000.

Through the first half of the year, 84 single-family homes had been sold in Wakefield for a median price of $825,000. Through the same period in 2023, 74 single-families had been sold for a median price of $742,000.

Statewide, single-family home and condo sales declined last month on a year-over-year basis as median sale prices reached new all-time highs, according to  The Warren Group.

Last month, there were 4,441 single-family home sales in Massachusetts, an 8.9 percent decrease from June 2023. Meanwhile, the median single-family sale price increased 8.1 percent on a year-over-year basis to $665,000, up from $615,000 in June 2023 – a new all-time high.

SUPPLY cannot keep up with demand, which increases prices in Wakefield and the rest of the state. (Mill River Apartments 2023 file photograph by Frank Conte)

“It wasn’t that long ago that the prospect of the median single-family home price exceeding $600,000 seemed like a long shot, but here we are with a median price approaching $700,000,” said Cassidy Norton, associate publisher and Media Relations director of The Warren Group. “A lack of inventory is clearly driving this record-setting appreciation. Despite these record prices, higher mortgage interest rates have actually slowed price growth – the median may have been even higher without those changes – but it has also contributed to low inventory.”

Year-to-date, there have been 18,451 single-family home sales in Massachusetts, a 0.8 percent decrease from the first six months of 2023. Meanwhile, the year-to-date median single-family home price increased 9.8 percent on the same basis to $609,900.

Condominiums

There were 1,938 condominium sales in June 2024, compared to 2,324 in June 2023 – a 16.6 percent decrease. Meanwhile, the median sale price rose 5.2 percent on a year-over-year basis to $570,000 – a new all-time high for condos.

“Massachusetts condo sales followed similar activity to single-family homes,” Norton added. “Sales were down on a year-over-year basis while the median sale price reached a new all-time high. The median Massachusetts condo price may well exceed $600,000 in the coming months.”

Year-to-date, there have been 8,954 condo sales, a 4.5 percent decrease from the first six months of 2023 with a median sale price of $540,000, a 5.9 percent increase on the same basis.

Condo sales in Wakefield were down last month, and have been for the first six months of the year compared to 2023.

Four condos sold in town last moth for a median price of $453,750. During June 2023, 10 condos sold for a median price of $575,000.

During the first six months of 2024, 24 condos were sold in Wakefield for a median price of $548,000. During the same period last year, 35 condos sold for a median price of $525,000.

Greater Boston single-family homes

There were 2,341 single-family home sales in the Greater Boston housing market in June 2024, which marked a 6.2 percent decrease from June 2023 when there were 2,496 transactions. 

Meanwhile, the median single-family sale price increased 8.4 percent on a year-over-year basis to $835,000.

Greater Boston condominiums

In June, there were 1,439 condo sales, up from 1,705 sales in June 2023, marking a 15.6 percent decrease on a year-over-year basis. Meanwhile, the median condo price rose 4.8 percent on the same basis to $660,000, up from $630,000 a year earlier.