Mass. home sales improve in June, best month in a decade

MASSACHUSETTS HOME sales increased 11.4 percent in June, making it the best month for sales in 10 years, according to The Warren Group, publisher of Banker & Tradesman. / COURTESY THE WARREN GROUP
MASSACHUSETTS HOME sales increased 11.4 percent in June, making it the best month for sales in 10 years, according to The Warren Group, publisher of Banker & Tradesman. / COURTESY THE WARREN GROUP

BOSTON – Massachusetts home sales increased 11.4 percent in June, making it the best month for sales in 10 years, according to The Warren Group, publisher of Banker & Tradesman.
A total of 6,457 single-family homes were sold in June compared with 5,798 in June 2014. June was the best month for home sales since August 2005, The Warren Group said.

Year to date, 21,667 homes have been sold in the Bay State, a 1.8 percent increase compared with last year at the same time.
The median sales price for single-family homes was $365,000 in June, an increase of 1.4 percent from June 2014’s median price of $359,900.
Bristol County failed to follow statewide trends in home sales and median sales prices. In Bristol County, there were 345 single-family homes sold in June, an 8 percent decrease from the 375 sold in June 2014. The median price also fell 4.3 percent year over year to $260,000.
“This month, we are seeing the early results from a strong spring market. It is a remarkable showing after a prolonged slump and a sluggish recovery extending over the past 10 years. This is the largest number of homes sold in any month since August 2005,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. “Homes that closed in June are typically deals that were shopped and negotiated 30 to 60 days earlier. This shows the strength of the spring selling season and follows disappointing sales earlier in 2015.”
The Warren Group said June also was the best month for condominium sales since August 2007. It marked the first time in seven consecutive months that condo sales have increased on a year-over-year basis.
Condominium sales rose 15 percent in June – 2,794 transactions were completed compared with 2,429 in June 2014.
Year-to-date sales of condos slipped 0.7 percent, with 9,526 sales during the first six months of the year compared with 9,590 recorded during the same year-ago period.
Condo prices increased 2.3 percent in June, with a median selling price of $332,500 compared with $325,000 in June 2014.
In Bristol County, condo sales, like the single-family home sales, decreased in June by 39 percent, to 42 from 69 a year ago. The median sales price also fell nearly 18 percent to $181,250 in June.

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