Mass. Home Sales, Prices Up in 2013
More homes and condos are selling at higher prices this year in the Bay State, according to data released today by the Massachusetts Association of Realtors.
Single-family home sales increased 7.1 percent from 5,198 houses in August 2012 to 5,568 houses in August of this year, while condominium sales rose 6.7 percent over the same period from 2,126 to 2,269.
Meanwhile, the median home sale price leaped from $317,000 in August 2012 to $345,000 in August 2013; the median condo price also rose from $290,000 to $320,000.
“Interest rates have been inching up over the past few months and the fear of future mortgage interest rate hikes has wanna-be home buyers concerned that if they do not buy now, they could be facing both higher interest rates and higher home prices down the road,” said Sam Schneiderman, president of the Massachusetts Association of Buyer Agents, in a statement.
Home sales, however, dipped 3 percent from July to August, while condo sales dropped 1.2 percent.
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