Warm December kept housing market hot
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An unseasonably warm December kept the housing market hot in Massachusetts, according to the Massachusetts Association of Realtors (MAR).
The mild December allowed for increased buyer activity, according to MAR, with pending home sales up 34 percent over the same month last year. The 3,537 pending home sales also accompanied a 4.5 percent increase in median price over last December, to $345,000.
Pending condominium sales were also up 30 percent to 1,217 across the state.
The December numbers capped off a strong year with 63,323 pending single family home sales -- a 10 percent increase -- and 24,048 pending condominium sales, a 7.9 percent increase. The average median price for single family homes rose to $341,729 while the average pending condominium price reached $317,684 for the year.
“An improved economy and a strong desire to live in Massachusetts pushed pending home sales up over last year despite the low number of homes for sale,” 2016 MAR President Annie Blatz said.
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