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Single-family median home prices saw a positive second quarter this year in 91 percent of metro areas, according to the latest quarterly report by the National Association of Realtors, and Boston was no exception.

A full 162 of 178 metropolitan statistical areas showed sales price gains, a ratio that’s up from the 86 percent seen in the first quarter of the year. In the Boston metro area, median single-family prices were up 2.2 percent over the second quarter in 2018. Last year at this time, the median existing single-family home price in the area was $495,900. In the first quarter of 2019, it had dipped down to $461,200, but this quarter it’s back up to $506,700. Boston’s attached housing stock had an even stronger showing, with condo and co-op prices increasing 4.8 percent over the same time period, to $453,700.

Still, the national market recorded a higher percentage gain of 4.3 percent, increasing from $268,000 to $279,600. The association’s press release accompanying the report called out the fact that higher-priced metros saw either declining or stagnant prices. Many areas that have the highest housing costs saw price losses, most notably the 5.3 percent drop in the San Jose-Sunnyvale-Santa Clara area of California.
Lawrence …

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Article From: "Meg White"   Read full article