BOSTON (AP) — A real estate group says prices for single-family homes rose again last month in Massachusetts even as sales fell off slightly compared to a year ago.
The Massachusetts Association of Realtors reported Tuesday that the median price for a single-family home was $365,000 in June, compared to $351,000 in June 2013, a 4 percent increase.
The median price for a condominium rose 3 percent to hit a record high of $330,000 last month.
Sales in June were down about 1 percent. Peter Ruffini, president of the organization that represents real estate agents, attributed the higher prices and slight drop in sales to low inventory.
Ruffini said an influx of new properties was expected to hit the market, allowing sales to rebound and prices to level off.