An increase in the number of active listings and the number of days condos are sitting on the market offer buyers hope.
The median sales price for a single-family home in Greater Boston hit an August high of $915,000, still shy of that $1 million mark home buyers have been fearing and nearly $50,000 less than the home prices these properties were commanding at the tail end of the Spring House Hunt.
The August median sales price reflects a 4.3 percent year over year increase, according to a report the Greater Boston Association of Realtors released Tuesday.
Meanwhile, the median sales price for a condo hit a record high for the month of $702,000, for a more modest year-over-year increase of 2.7 percent, according to the report.
These prices are still well below their June highs of $961,250 for a single-family home and $750,000 for a condo. It was the second consecutive month of declines, according to the GBAR.
The news continues to be a mixed bag for home buyers.
The number of homes listed for sale August is down in both markets: a 6.8 percent year-over-year decrease for single-family homes and a 9.5 percent drop for condos. But the number of active listings is up a whopping 14.9 percent year over year in the single-family home market and 11.3 percent in the condo market, the GBAR reported. More active listings means more homes to choose from, bringing down the temperature a few degrees in this hot seller’s market.