Massachusetts Home Sales Up Nearly 22 Percent in April

Single-family home sales in Massachusetts increased almost 22 percent in April compared to April 2011 while median home prices statewide rose last month, reversing a seven-month long trend of decreasing home prices, The Warren Group, publisher of Banker & Tradesman, reported May 22, 2012.

In April, there were 3,505 single-family home sales, up from 2,877 in April 2011. April marks the fourth consecutive month and ninth month in the past 10 that sales volume increased year-over-year. April sales reached the highest level so far this year, surpassing the 3,203 sales recorded in March. The lowest monthly single-family sales total was 2,348 in February. Year-to-date sales are up more than 18 percent. A total of 11,477 homes have sold so far this year, up from 9,679 during the same period last year.

The median price for single-family homes sold in April rose 1.1 percent to $275,000 from $272,000 a year ago. This is the first time in the past seven months that median sale prices increased statewide. The median selling price for the first four months of the year was $264,900, just 1 percent lower than the $267,000 median price recorded during the same period in 2011.

Massachusetts condominium sales also increased, rising more than 12 percent to 1,363 from 1,214 in April 2011. The median condo sale price rose in April. The median price of a condo increased 3.5 percent to $280,000 in April from $270,350 during the same month in 2011. The year-to-date median condo price rose 4 percent to $257,250 from $247,000.

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[Amanda Doerr]

Hopefully the economy will continue to pick up so that more people can purchase and rent homes. I can't wait to own my own home one day!

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[Darius Degross]

Statistics depend on current trends and population growth. I think both of those factors affected this increase positively. This is good news for all the parties involved including real estate, mortgage, investment and property companies because it means the demand grows higher and more people are likely to avail their services. Households, too, benefit from it because their demand makes the supply grow as well. And the economy can improve with the flow of money.

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