Mass. sees 26% jump in home sales in November

SINGLE-FAMILY HOMES SALES IN MASSACHUSETTS in November hit their highest level for the month since 1998 and totaled the second-most in the month ever recorded. / BLOOMBERG FILE PHOTO/DERICK E. HINGLE
SINGLE-FAMILY HOMES SALES IN MASSACHUSETTS in November hit their highest level for the month since 1998 and totaled the second-most in the month ever recorded. / BLOOMBERG FILE PHOTO/DERICK E. HINGLE

BOSTON – The number of single-family homes sold in Massachusetts in November increased 26.1 percent from a year earlier, according to data released Tuesday by The Warren Group.
The 5,061 homes sold in the month represented the most sold in November since 1998, and the total is the second-most sold in any November on record. The increase added to the year-to-date sales increase, with 55,622 homes sold through the first 11 months of the year, an increase of 12 percent on the same 2015 period.
“Homes sales in 2016 continue to thrive,” said Timothy Warren, CEO of Boston-based The Warren Group. “The gain in November single-family home sales was the first double-digit percentage increase since June. The slowdown in the second half of this year had us wondering about the direction of the market, but November sales were exceptionally strong.”
At the same time sales were increasing, the median price of single-family homes sold in November increased 5 percent to $349,000, according to the real estate data tracking enterprise. Through the first 11 months of the year prices have increased 1.8 percent to a median price of $346,000.
Single-family home sales in Bristol County climbed 21.1 percent to 396 in November, although that increase was less than the 33.8 percent increase that the county has seen through the first 11 months of the year, with 4,537 homes sold. The median sale price in Bristol County for a single-family home in November was $280,000, in increase of 9.8 percent from November 2015. Year to date the median price for a single-family home sold in Bristol County has increased 7 percent to $275,000.
The Warren Group also collected data on condominium sales in the Bay State. The number of condos sold in November across Massachusetts grew 24.3 percent to 1,966, although the median price for the month was $335,000, an increase of 3.1 percent. Year to date condo sales have increased 9 percent to 21,967, with a median price of $330,000, itself an increase of 4 percent over the same 2015 period.
Bristol County condo sales have been robust compared with 2015, with a November increase of 30.4 percent to 73 and a year-to-date gain of 51.4 percent to 854. Prices, however, have lagged, dropping 0.4 percent in November to $210,000 and 0.6 percent to $187,000 from $188,125 through the first 11 months of the year.

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