Home sales up 12% in August
The number of Massachusetts single-family homes under a purchase agreement in August was up 12 percent, a rebound for pending sales after a drop the previous month.
The data released this week by the Massachusetts Association of Realtors showed a 5-percent rise in single-family home prices, from $378,750 a year ago to $399,000 last month. Prices hit an all-time high of $410,000 in June -- the first time sales topped $400,000 in Massachusetts - and fell slightly in July to $400,000 even.
August marked a second slight price drop, but the market remains hot, with pending sales for single-family homes rising in 11 of the last 12 months, according to the association.
The number of condominium sales rose by 8 percent. Prices were flat, at $345,000.
“Even with prices still close to the $400,000 mark, buyers have shown they’re eager to put in offers as the summer ended,” Massachusetts Association of Realtors and Patriot Real Estate of Medway President Paul Yorkis said in a statement. “This market can be challenging, but people are making it clear it’s a priority to live and work in Massachusetts.”
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