Home Sales, Inventories Swell In May
Single-family home sales in Massachusetts ballooned 37 percent in May as buyers who took advantage of federal tax credits that expired in April sought to close deals by the June 30 deadline.
Sales were up from 3,255 in May 2009 to 4,452 last month, said The Warren Group, a Boston-based real estate tracker. Year-to-date, sales are up 29 percent.
The median single-family home price hit $290,000, a 2.6 percent increase from a year prior.
Between January and May, 6.6 percent of single-family homes sold were owned by banks or lenders, down from 9.8 percent a year earlier.
The Massachusetts Association of Realtors said May sales were up 31.5 percent compared to last year and the median selling price was $299,000. The MAR only includes transactions that involve real estate agents in its data.
The MAR also said inventory of single-family homes increased 4 percent compared to May 2009. At the end of the month, there was an 8.6-month supply of homes on the market. May was the third consecutive month in which inventory has increased.
WBJ Web Partners
Most Recent
Most Recent
0 Comments