Massachusetts single-family home sales climb 16% in October

MASSACHUSETTS single-family home sales grew 16.3 percent in October, to 5,127 compared with 4,407 recorded in October 2014, according to The Warren Group, publisher of Banker & Tradesman. / COURTESY THE WARREN GROUP
MASSACHUSETTS single-family home sales grew 16.3 percent in October, to 5,127 compared with 4,407 recorded in October 2014, according to The Warren Group, publisher of Banker & Tradesman. / COURTESY THE WARREN GROUP

BOSTON – Massachusetts single-family home sales grew 16.3 percent in October, to 5,127 compared with 4,407 recorded in October 2014, according to The Warren Group, publisher of Banker & Tradesman.
The median price increased 2.2 percent, to $327,000 from $320,000.
Year to date, sales increased 10.8 percent, to 45,588 sales, compared with 41,146 during the first 10 months of 2014.
Condominium sales also increased 8.8 percent, to 1,942 in October from 1,785 in October 2014. The median price for condos also rose 7.7 percent, to $315,000 from $292,488.
The Warren Group said the real estate market is continuing its prolonged rally.

“Is the dramatic spurt in sales volume purely the effect of our historically bad winter? Or did the improved economy and jobs picture unleash unprecedented pent-up demand? I’d say both, but the weather clearly plays a role. The second-worst winter on record for the area – ahead of even 1978 – was 1996, and there is nothing even close to that drastic of an effect in our data. What makes this market even more remarkable is the fact that median prices continue to rise very modestly – right around 2 percent for the month of October and the year to date,” Tim Warren Jr., CEO of The Warren Group, said in a statement.
Bristol County also saw an increase in sales for single-family homes and condominiums last month. Single-family home sales jumped 58.7 percent, to 427 from 269 a year ago, and condominium sales rose 61.7 percent to 76 from 47. The median price of single-family homes in the county grew 8.3 percent, to $260,000, and for condos, it climbed 19 percent, to $190,500.

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