Condo, Single-Family Home Sales Rise In Dracut, Stay Strong Across State
Nov 13, 2016 05:45PM
By Bill Gilman
This is the largest amount of sales September since 2005, and is the fifth straight month with at least 5,000 homes sold. Year-to-date, sales are up by 12.7 percent with 45,648 homes sold through September 2016 compared with 40,510 sold during the same time last year.
The median sale price of a single-family home in September reached $340,000, a 3.0 percent increase from $330,000 last year. This is the lowest median sale price recorded in five months. Year-to-date prices are up 1.4 percent from last year, with a median sale price of $347,330.
“2016 has been an outstanding year for sales,” said Timothy Warren, CEO of The Warren Group. “Though we’ve got three more months left in the year it appears that we could see 2016 sales of single-family homes reach the 2015 level of 60,523.”
In Dracut, 36 single-family homes were sold in September, a modest increase of 2.9 percent over September 2015. Through the first nine months of 2016, 283 homes have been sold, up a whopping 38 percent over 2015.
Prices, however, appear to be sliding. The average price of a home sold in Dracut in September was $302,500, down 5.5 percent from September 2015.
For condominiums the September median sale price reached $335,000, an 11.7 percent increase from $300,000 in the same month last year. Year-to-date, condo prices are up 3.9 percent with a median sale price of $330,000 compared with $317,750 in the same time period last year.
The number of condos sold in September increased by 11.4 percent, with 2,293 sold compared with 2,059 sold in September 2015. Year-to-date, condo sales have increased by 8.9 percent to 18,115 condos sold compared with 16,624 in the same timeframe last year.
Dracut saw a sharp increase in condo sales in September, with 19 units sold, an increase of 72.7 percent. Through Sept. 30, 134 condo units have been sold locall, a jump of 32.4 percent from the same time period in 2015.
Condo prices also spiked in September, with the average sale price at $173,450, an increase of 32.4 percent over Sept. 2015.