Home sales climb 5% in Bristol County, Mass.

SINGLE-FAMILY HOME sales in Bristol County, Mass. climbed 5 percent in June compared with the same period last year, The Warren Group said Tuesday.
Posted 7/24/12

BOSTON – Single-family home sales in Bristol County, Mass. climbed 5 percent in June compared with the same period last year, The Warren Group said Tuesday.

The real estate tracking firm reported 288 homes sold in Bristol County last month, up from 273 in June 2011. It was the second consecutive month of year-over-year sales rose in the county.

The June median single-family year-over-year sale price fell 2 percent in Bristol County to $240,000, down from $245,000 in June 2011.

The modest rise in sales volume in Bristol County comes as home sales in Rhode Island and the rest of Massachusetts have been surging in recent months.

Statewide, Massachusetts single-family sales rose 26 percent in June compared with June 2011. The 5,498 Massachusetts single-family homes sold in June was the second highest monthly total since June 2010.

“It's common to see strong sales volume once the spring selling market begins, but these numbers nearly parallel sales from two years ago when a government tax credit was being given to buyers,” Warren Group CEO Timothy M. Warren Jr. said in a statement “The local consumer confidence combined with low mortgage rates are evidently helping the market a great deal.”

The Massachusetts median sale price fell 1 percent last month compared with June 2011, to $322,000 from $325,000.

“A month of nearly unchanged prices is a promising indicator that buyers are beginning to re-enter the market, and downward pressure on home prices is abating,” Warren said.

In other areas of the market, Bristol County condominium sales rose 19 percent in June compared with the same period last year, from 42 sales to 50.

The median condominium sales price, however, dropped 21 percent year over year to $125,100.

Statewide, condominium sales jumped 31 percent in June compared with June 2011, and the median condominium sales price rose 6 percent to $313,001.

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