Housing Market Continues Rebound
Two real-estate tracking groups, The Warren Group and the Massachusetts Association of Realtors, agree that single-family home sales increased by double-digit margins in March compared to the same time last year.
The Warren Group, which is based in Boston, reported that 3,162 homes were sold in March, an increase of 27.6 percent compared to a year earlier. For the first quarter of the year, home sales were up 17.5 percent, which is the first time the group has reported a quarterly spike in sales since 2004. Condominium sales rose about 33 percent from last year.
The Warren Group also estimates that the median home price rose almost 8 percent to $275,000 in March.
Similarly, the Massachusetts Association of Realtors reported that single-family home sales increased 29.3 percent year-over-year, with 2,890 homes sold in March. The Association reported the median selling price as $280,000, up 9.8 percent from a year ago. Home sales were up more than 50 percent compared to the previous month.
The association also reported that inventories of homes rose about 2 percent, the first month-to-month increase in 23 months.
The association's figures only account for transactions that involve a Realtor.
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