Housing Market Continues Surge
Two new reports indicate a continued rebound for the Massachusetts housing market.
The Warren Group said home sales in the Bay State rose almost 35 percent in May, reaching their highest level since June 2010. Meanwhile, the Massachusetts Association of Realtors (MAR) said year-over-year sales of single-family homes rose for the 11th straight month.
However, both reports cited lower prices. The median price for single-family homes sold in May dropped more than 3 percent to $289,950 from May 2011, according to The Warren Group, which is based in Boston. The MAR said its data found a 1-percent drop to $295,000.
But the Warren Group said its reported median for May is the highest recorded in 2012.
Meanwhile, the median price of a single-family home in Worcester County rose 0.24 percent over the previous year, one of only two Massachusetts counties to see increases. (The other was Franklin County, at 6.3 percent). The median price of a single-family home in Worcester County in May was $205,500, up slightly from $205,000 in May 2011. The medians for Middlesex and Norfolk counties dropped 1.24 percent and 2.47 percent, respectively.
Sales for condominiums were more robust over the last year, as the number of sales in Massachusetts rose more than 50 percent year over year. The median selling price for a condo in Worcester County rose more than 20 percent to $144,250. The median in the city of Worcester alone soared more than 51 percent, to just over $136,000.
Median selling prices for condos in Middlesex and Norfolk counties rose slightly.
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New Hope For New Homes: Central Mass. Builders See More Interest, Higher Prices
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