Massachusetts single-family home sales continued at a brisk pace in July, increasing nearly 27 percent compared to July 2011, and posting the highest number of sales for the month since 2005, The Warren Group, publisher of Banker & Tradesman, reported August 29, 2012.
A total of 4,979 single-family homes sold Massachusetts in July, a jump from 3,922 during the same month last year. July saw the best sales volume since 2005, when there were 6,672 sales. So far this year, 26,596 single-family homes have sold in Massachusetts, an increase of 24.8 percent from 21,319 during the same period in 2011, which was a pretty depressed real estate market.
Massachusetts condominium sales also increased in July, rising 34 percent from a year earlier. A total of 1,994 condos sold in July, up from 1,487 a year ago. Year-to-date condo sales were also up almost 26 percent, increasing to 10,611 from 8,437 during the same period last year.
The median price of single-family homes were flat in July, inching up less than 1 percent to $318,000, up from $315,000 a year earlier. July was the second month this year that the median price increased, and the second consecutive month that prices exceeded $300,000. The median price for homes sold January through July 2012 was $287,000, down 1.7 percent from $292,000 in 2011.
The median condo price slipped slightly in July. The median selling price was $295,000, down 0.3 percent from $296,000 a year earlier. The year-to-date median price of condos in Massachusetts is $280,000, up about 3 percent from $272,000 a year ago.