BOSTON (AP) — Two organizations that track the real estate market say the median price of a single-family home in Massachusetts has reached its highest level ever.
The Massachusetts Association of Realtors said Tuesday that the median price reached $380,000 last month.
The Warren Group announced that the median price jumped to $372,000 in June, surpassing the previous high of $370,000 reached in August 2005.
Home prices are being driven up by low inventory and high demand. The Realtors says new listings were down in June for the third straight month.
The number of homes sold last month was up nearly 6 percent from June 2015, according to the Realtors.
The Warren Group says sales rose almost 15 percent year over year.
The groups use slightly different figures in their calculations.
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