July banner month for home, condo sales in Mass.

BOSTON – July was the best month for single-family home sales in Massachusetts since June 2005, and the best month for condominium sales since August 2007, according to The Warren Group, publisher of Banker & Tradesman.
There were 7,077 single-family home sales last month, a 24.3 percent increase year over year, The Warren Group said.
Condo sales increased 20 percent year over year in July to 2,794.
Year to date, Massachusetts has had 28,745 single-family home sales, a 6.5 percent gain on last year’s total of 26,985. There also have been 12,132 condo sales through July, a 1.8 percent increase over last year’s year-to-date total of 11,917.
“July’s numbers are the result of a very strong spring season and are an improvement over the sluggish start to the year,” Cassidy Murphy, editorial director of The Warren Group, said in a statement. “A rough winter and pent-up demand turned into a strong spring that is a positive sign for the real estate market throughout the state.”
The median sales price for single-family homes in July was $359,900, a 1.38 percent increase from July 2014’s median of $355,000.
The median condo price in July was $337,500, an increase of 3.9 percent from July 2014’s median price of $325,000.
Single-family home sales and condominium sales also increased in Bristol County in July.
There were 501 single-family home sales in July, a 29 percent increase year over year, and 82 condo sales, a 17 percent increase. The median single-family home price rose 3.8 percent year over year in July to $275,000, while the median condo price climbed 10.5 percent to $192,750 during the same period.
Year to date, single-family home sales have declined 6 percent in Bristol County to 1,795, and condo sales have fallen 25 percent to 295, compared with the first seven months of 2014.

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