Massachusetts home sales surge in September

MASSACHUSETTS HOME sales grew 25.3 percent in September, continuing an upward trend and marking the best September sales month for residential real estate since September 2005, The Warren Group, publisher of Banker & Tradesman, said Tuesday.
MASSACHUSETTS HOME sales grew 25.3 percent in September, continuing an upward trend and marking the best September sales month for residential real estate since September 2005, The Warren Group, publisher of Banker & Tradesman, said Tuesday.

(Updated 11:49 a.m.)
BOSTON – Massachusetts home sales grew 25.3 percent in September, continuing an upward trend and marking the best September sales month for residential real estate in a decade, The Warren Group, publisher of Banker & Tradesman, said Tuesday.
A total of 5,430 single-family homes were sold in September compared with 4,335 in September 2014. Year to date, 40,461 homes were sold, representing a 10.1 percent increase compared with the same nine-month period a year ago, The Warren Group said.
Bristol County experienced a 42 percent increase in homes sold, as 380 were sold in September compared with 267 a year ago. The median sales price for the county also increased 3 percent, to $263,250.
“September’s numbers are a continuation of the strongest spring and summer market Massachusetts has seen in 10 years,” Tim Warren Jr., CEO of The Warren Group, said in a statement. “The increase in sales, and the steady increase in median sales prices, shows there was a good amount of pent-up demand for purchases. Married couples and new parents were ready to become first-time homeowners and had the savings to make it possible. Empty-nesters were finally ready to downsize and confident they’d get good value for their homes.”
The median sales price also climbed in September, 3.1 percent, to $330,000 compared with $320,000 in September 2014. Year to date, the median sales price has increased 2.1 percent, to $342,000, compared with $335,000 a year ago.
Condominium sales also rose in September this year, nearly 20 percent, with 2,059 sales, compared with 1,722 in September last year. Prices essentially were unchanged with a median of $300,000, compared with $300,500 in 2014, a decrease of 0.2 percent.
Year to date, the 16,626 condo sales represent a nearly 5 percent increase over the 15,865 sales through the first nine months of 2014. Condo prices have been close to flat year to date as well, posting a 0.9 percent increase, with a median of $317,500 compared with $314,800 last year.

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