May median single-family home price highest in 8 months in Mass.

SINGLE-FAMILY home sales in Massachusetts climbed nearly 21 percent in May to 5,297 compared with 4,382 in May 2015, according to The Warren Group. / BLOOMBERG NEWS FILE/TY WRIGHT
SINGLE-FAMILY home sales in Massachusetts climbed nearly 21 percent in May to 5,297 compared with 4,382 in May 2015, according to The Warren Group. / BLOOMBERG NEWS FILE/TY WRIGHT

BOSTON – The median sale price of a single-family home in Massachusetts in May was $347,000, the highest in eight months, The Warren Group said Tuesday. The median sale price increased $7,000 over the year.
Year to date, prices have remained flat at $325,500, a 0.2 percent improvement from the same five-month period a year ago.

In addition, single-family home sales in Massachusetts climbed nearly 21 percent in May to 5,297, compared with 4,382 in May 2015. Year to date, sales rose 28.2 percent, with 19,554 homes sold in the first five months of 2016 compared with 15,258 sold during the same time last year.
“Sales volume continues to be very strong,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. “We have seen gains of 20 percent or better every month this year. And for the past 12 months we have recorded double-digit increases. Home buyers are out in force and deals are getting done.”
Condominium sales for the month rose 9 percent, with 2,146 condos sold compared with 1,969 sold in May 2015. This marked the 12th consecutive month of increases in condo sales. Year to date, condo sales increased 19.4 percent to 7,845 condos sold, compared with 6,573 in the same time frame last year.
The median condo price in the Bay State increased 4.4 percent to $335,000, compared with $321,000 last year. Year to date, condo prices have risen 3.2 percent to a median sale price of $310,000, compared with $300,450 in the same time period last year.
Bristol County mirrored statewide trends, showing a 75.2 percent increase in the number of sales, to 445 in May from 254 in May 2015, and a 10.2 percent increase in median sale price, to $272,000 from $246,750.
Condo sales in Bristol County also rose 87.5 percent to 90 from 48, but the median sale price slipped 2.7 percent to $185,500 from $190,625.

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