Mass. Home Sales Continue Rise
Home sales in Massachusetts rose year-over-year for the 15thconsecutive month in September, according to the Massachusetts Association of Realtors (MAR).
There were 3,580 single-family homes sold during the month, up 2.8 percent from last year, MAR reported. It was also the most homes sold during September since 2006.
However, that number is a 30.9-percent decrease from August, which saw 5,180 home sales. MAR said it's typical to see a significant month-to-month drop between August and September.
"September numbers show that buyers took advantage of market conditions to push home sales up again," said MAR President Trisha McCarthy. "Despite the decreasing inventory of homes for sales, prices continue to stabilize and compared to the peak years are a good value for those people looking to buy."
Meanwhile, The Warren Group reported 3,791 home sales in September, an 8-percent increase over last year. It also said sales increased in the third quarter, to 13,861 from 11,691 during the same period last year and that, year-to-date sales are up by almost 22 percent over last year to 35,482.
Worcester County sales jumped by nearly 21 percent over last year, with 539 sales compared to 446. Year-to-date, sales were up 25.6 percent to 4,715 from 3,755. It was a different story for the month in Middlesex County, where sales dipped slightly from 797 last year to 794 this year. However, year-to-date, sales were up 21.2 percent, rising from 6,601 to 7,997.
"Home sales have reached the highest level in nine quarters, a strong sign that consumers have regained some confidence in the economy and are making home purchases with more enthusiasm," said The Warren Group CEO Timothy M. Warren Jr. "But, the end of the summer selling season and a slight increase in unemployment could mean sales will slow at the end of the year."
The MAR said the median sale price for a single-family home in September was $294,900, down 0.6 percent from 2011. It was the second consecutive month that prices dropped over 2011 and the third of a month-to-month decline.
The Warren Group noted a bigger decline in median prices. The group said they fell 4.5 percent in September from 2011, down to $277,000. The median price statewide hadn't been below $300,000 since May. Year-to-date, prices were down 1.6 percent from last year, coming in at $290,000.
Condominium sales were up 10.4 percent in September, with 1,426 units sold. Last year, 1,292 were sold, according to MAR. Condo sales have risen for 14 of the past 15 months the association said. They were down 32.5 percent compared to August.
The Warren Group reported more than double the increase of the MAR, finding that condo sales rose 23 percent, from 1,306 last year to 1,609 in September. It said year-to-date sales are up 27.5 percent, rising from 11,479 last year to 14,641.
Image credit: FreeDigitalPhotos.net.
Read more
New Home Sales Rise Again In July
New Hope For New Homes: Central Mass. Builders See More Interest, Higher Prices
Mass. Pending Home Sales Rise Again
Reports Cite Growing Mass. Housing Market
Pending Home Sales Up Again Over 2011
WBJ Web Partners
Most Recent
Most Recent
0 Comments