Mass. home sales, condo sales climb in November

MASSACHUSETTS HOME sales increased 10.3 percent, and condominium sales climbed 16.5 percent, in November, The Warren Group, publisher of Banker & Tradesman, said Tuesday. / COURTESY THE WARREN GROUP
MASSACHUSETTS HOME sales increased 10.3 percent, and condominium sales climbed 16.5 percent, in November, The Warren Group, publisher of Banker & Tradesman, said Tuesday. / COURTESY THE WARREN GROUP

BOSTON – Massachusetts home sales increased 10.3 percent, and condominium sales climbed 16.5 percent, in November, The Warren Group, publisher of Banker & Tradesman, said Tuesday.
A total of 4,011 single-family homes were sold in November, compared with 3,635 a year ago. The median sale price also rose, climbing 2.2 percent to $332,000 from $324,900 last year.
Year to date, single-family home sales have grown 10 percent statewide, with 49,604 single-family homes sold, compared with 45,113 through the first 11 months of 2014, The Warren Group said.

“The growth of the housing market in 2015 is a welcome sign that many Massachusetts residents are starting to feel confident in their own personal economic outlook,” Cassidy Murphy, editorial director of The Warren Group, said in a statement. “Low inventory and pent-up demand have combined to bring up prices in many places, and enough time has passed since the recession that equity has grown sufficiently and homeowners that were once underwater on their mortgages can sell their homes.”

Bristol County exceeded statewide trends, posting a 39 percent increase in single-family home sales in November, to 327 from 235, and seeing a 4 percent increase in median price, to $255,000 from $245,000.
Year to date, single-family home sales have jumped 11.6 percent in Bristol County, to 3,387 from 3,035 during the year-ago period.

The Warren Group said the condo market in Massachusetts has also been “incredibly strong in its own right,” as there were 1,583 condo sales in November, a 16.5 percent increase from 1,359 sales in November 2014. The median sale price was $325,000, a 12.1 percent increase from the median price of $290,000 in November 2014.

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Year to date, there have been 20,152 condo sales, a 6 percent increase from the 19,010 sales through the first 11 months in 2014.
In Bristol County, condo sales increased 36.6 percent to 56 in November from 41 in November 2014. The median price grew 7.5 percent, to $201,500 from $187,500. Year to date, sales have fallen 6 percent, however, to 564 from 600 during the prior-year period.

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