2012 Mass. Home Sales Highest Since '06
Home sales in Massachusetts reached their highest level in at least six years, according to two industry organizations.
According to The Warren Group, single-family home sales rose 18 percent in 2012, to 46,887 from 39,594. It was the highest number of sales since 2006, when there were 50,724, the Boston-based organization said.
Meanwhile, the Massachusetts Association of Realtors said home sales grew 21 percent over 2012. MAR said 2012 was the most active year since 2005, when 51,078 homes were sold.
The Warren Group said home sales hit 12 consecutive months of growth in December and sales for the month were up 8 percent over 2011, to 3,688.
The Warren Group reported an increase in sales for the year of more than 18 percent in Worcester County, from 5,195 to 6,150. In Middlesex County, there were 10,416 sales in 2012, a 20-percent increase over the 8,660 sales in 2011.
MAR reported higher year-over-year growth for the month, of 13 percent, saying 3,307 homes were sold in December. It said last December saw the most home sales of any month since December 2005, when there were 3,770 sold. Sales were down 9.8 percent compared to November.
The Warren Group also said home sales increased 13 percent in the fourth quarter compared to 2011 and that there were 11,305 sales in the period. The first quarter was the worst of 2012, with 8,018 sales.
"I would characterize 2012 as the year of robust recovery in the real estate market," said Timothy M. Warren Jr., CEO of The Warren Group. "It is clear we have turned the corner and are gaining ground rapidly. I contrast the 18 percent gain last year with the decline of 6 percent in 2011."
For the first time since August, median home prices topped $300,000, rising more than 12 percent from December 2011, The Warren Group said. It was also the first December since 2007 in which the median reached that mark.
The median price for single-family homes ticked up 1.8 percent to $290,000 in 2012, compared to $285,000 in 2011.
MAR reported a 10.4-percent jump in median prices from December 2011, to $303,500.
Condominium sales were up 25 percent for the year, rising from 15,191 to 19,061, The Warren Group reported. It was the highest number of sales since 2008, when there were 20,109.
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