Mass. Home Sales Keep On Rising

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By Rick Saia

Home sales in Massachusetts, as well as their prices, continued their upward climb in November, according to two reports released Thursday.

Both The Warren Group and the Massachusetts Association of Realtors (MAR) said that, year over year, the number of sales rose robustly in the Bay State. The Warren Group cited a 38-percent jump, higher than the MAR's 29.5 percent.

Median prices of single-family homes were also up, according to both reports, with The Warren Group citing a 2-percent jump to $275,000; the MAR said the median price rose 3.5 percent to $295,000.

Sales of condominiums were just as brisk. The Warren Group said sales jumped 33 percent, with the median sale price up more than 7 percent to $275,000. The MAR said condo sales rose 35.9 percent, with the median rising 12 percent to $290,000.

"We're winding down a pretty strong year of real estate in Massachusetts. It looks like sales will be the highest since 2006," said Timothy M. Warren Jr., CEO of The Warren Group. "We're also seeing median prices start to creep up, another positive sign of a healthy market recovery."

Both organizations said sales in the Bay State rose for the 11th consecutive month.

Year-over-year sales in Worcester County were also up substantially, according to The Warren Group. Sales of single-family homes rose 31 percent, but sales of condominiums were much more robust, rising 83 percent over November 2011. In Middlesex County, single-family home sales rose 35 percent; condos 27 percent. Median prices showed little change in Worcester County; in Middlesex County, the median for condominiums rose 10 percent while the average for single-family homes was flat.