Massachusetts single-family home sales increased again in June, reaching the highest level for any month in two years, The Warren Group, publisher of Banker & Tradesman, reported recently.
Single-family home sales in the Commonwealth rose nearly 26 percent in June, the fifth straight month of double-digit percentage increases. A total of 5,498 single-family homes sold in June, up from 4,368 the previous year. This marks the best month for sales since June 2010, when there were 5,662 sales. That year the federal government's homebuyer tax credit spurred home sales.
Second quarter home sales totaled 13,560, a 28 percent increase from 10,595 in the second quarter of 2011. Year-to-date home sales statewide are up 24 percent. From January to June, a total of 21,567 single-family homes have sold, compared to 17,397 during the same period a year ago.
Single-family Home Prices Beginning to Stabilize
For the second consecutive month, year-over-year home prices decreased slightly. The median sale price of single-family homes statewide dropped almost 1 percent to $322,000 in June, down from $325,000 in June 2011. The year-to-date median sale price is $282,000, down 1.9 percent from $287,500 during the same period last year. Quarterly prices dropped 0.1 percent to $299,900, down from $300,250 during the second quarter 2011.
Condo Sales Also Strong, Median Prices Increase
Massachusetts condominium sales also rose in June, increasing almost 29 percent from a year earlier. A total of 2,216 condos sold in June, up from 1,723 in June 2011. Year-to-date condo sales were up 23 percent to 8,568 from 6,950 a year earlier. In the second quarter, 5,507 condos sold, up more than 31 percent from 4,184 during the same period last year.
The median sales price of condos increased again in June. The median selling price was $313,001, up 6.3 percent from $294,500 a year earlier. The second quarter median condo price rose 2.6 percent to $295,000 from $287,500 in the second quarter 2011. The year-to-date median price of condos in the Bay State is $276,500, up about 4 percent from $266,000 a year ago.