Massachusetts single-family home sales rise in October

THE WARREN GROUP SAID THAT sales of single-family homes in the Bay State rose 1.4 percent in October, marking the first time sales have increased year-over-year since June. / COURTESY THE WARREN GROUP
THE WARREN GROUP SAID THAT sales of single-family homes in the Bay State rose 1.4 percent in October, marking the first time sales have increased year-over-year since June. / COURTESY THE WARREN GROUP

BOSTON – Sales of single-family homes in the Bay State rose 1.4 percent in October, marking the first time sales have increased year-over-year since June, according to the latest report by The Warren Group, publisher of Banker & Tradesman.
“It is encouraging to see home sales inch their way up in October, after declines in seven of the previous ten months. These numbers reflect sales from late summer house hunting,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. “Prices also increased slightly. For a year now, the entire market has been pretty flat. We have seen modest increases and modest decreases in both median prices and sales volume, but no big swings.”
The Warren Group said a total of 4,404 single-family homes sold in October, compared with 4,345 a year earlier.
On a year-to-date basis, however, sales decreased by 2.7 percent, with 41,140 homes sold compared with 42,270 during the same period last year.
The median selling price of a single-family home also increased by 2.1 percent in October to $320,000, compared with $313,500 in October 2013. Year-to-date, the median selling price jumped 2.3 percent to $332,525, compared with $325,000 during the same period last year.
In October, condominium sales statewide climbed 3.9 percent, as 1,799 condominiums were sold, up from 1,732 a year ago. Year-to-date, condominium sales rose 3.2 percent, rising to 17,666 from 17,117 during the same period last year.
The median condominium price fell 3.3 percent in October to $290,000, down from $300,000 a year earlier. Year-to-date, the median price of condominiums in the Bay State was $310,000, up almost 5 percent from $295,940 a year ago.

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