Mass. Home Sales Rise Again In August
Home sales in Massachusetts rose for the second straight month in August despite a drop in the average selling price over August 2010, according to the Massachusetts Association of Realtors.
Year-over-year sales rose nearly 18 percent, and close to 6 percent over July's figures. The median selling price was $315,000, a 4 percent drop compared with $328,000 in August 2010. The latest median price was unchanged from July.
Sales of condominiums rose nearly 12 percent from August 2010 and just under 9 percent from July. The median selling price also dropped 4 percent year over year, from $300,000 to $288,000.
The Realtors group also expressed continued concern over the theft of copper pipes from vacant homes and its impact on the Bay State housing market. It said that once thieves strip copper pipes and other metals from a vacant home, the sale price could fall, and impact the values of surrounding homes.
The price of copper on commodity exchanges has soared over the last three years. For example, the price on the COMEX exchange has ranged from about $1.25 a pound to about $4.50 as recently as this year. The current price is just under $3.50.
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