Oct. Home, Condo Sales Highest Since '05

Courtesy of The Warren Group

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The home and condominium markets in Massachusetts were more active in October than at nearly any point in the past decade, according to data today released by the Massachusetts Association of Realtors (MAR) and The Warren Group.

Single-family home sales increased 12.2 percent from 3,761 in October 2012 to 4,221, the MAR said. Last month saw the highest number of closed sales of any October since 2004.

Meanwhile, condominium sales rose 8.8 percent over the same period from 1,464 to 1,593, the MAR said. That’s also the highest of any October since 2004, when 1,892 units were sold.

Year-to-date home sales are up from 39,239 to 42,077, according to the Warren Group, while year-to-date condo sales are up from 1,487 to 1,724.

“The buyer activity, despite the relatively few homes for sale, really picked up in the spring and remained high into the fall,” MAR President Kimberly Allard-Moccia said in a statement.

In Worcester County, home sales were up 24.4 percent, with 592 units sold in October, according to The Warren Group. Condo sales increased 12.8 percent year over year to 132.

Meanwhile, sales in Middlesex County leaped 18.2 percent to 922, while condo sales climbed 11.4 percent to 508, The Warren Group found.

Also, the median home sale price statewide jumped from $285,000 in October 2012 to $320,000 in October 2013, according to MAR, while the median condo price rose from $265,000 to $295,000.

The median price for homes sold in the first 10 months of 2013 is more than 12 percent higher than 2012, The Warren Group said, while the median condo price is up 7 percent.

“The pace of the housing market has surpassed expectations this year,” CEO Tim Warren Jr. said in a statement. “Pent-up demand is still high following several years of slow activity, and the improving economy is helping to boost the market.”

Home sales, though, sunk 2.9 percent from September to October, while condo sales dropped 10.6 percent, according to the MAR. A month-over-month decrease in close sales is typical as the weather cools, the MAR said.