Mass. home sales rise in March, condo sales fall

MASSACHUSETTS SINGLE-FAMILY home sales rose slightly year over year in March, according to The Warren Group, publisher of Banker & Tradesman. Condominium sales decreased statewide by 6 percent. / COURTESY THE WARREN GROUP
MASSACHUSETTS SINGLE-FAMILY home sales rose slightly year over year in March, according to The Warren Group, publisher of Banker & Tradesman. Condominium sales decreased statewide by 6 percent. / COURTESY THE WARREN GROUP

BOSTON – Massachusetts single-family home sales rose slightly in March, marking the second consecutive month sales have increased in 2015, according to The Warren Group, publisher of Banker & Tradesman.

Single-family home sales rose nearly 1 percent in March, with 2,778 homes sold compared with 2,754 during March 2014.

The median price for a single-family home sold rose 0.76 percent to $317,400 in March from $315,000 a year earlier, marking the sixth consecutive month that monthly home prices have increased year over year.

“The small increase in single-family homes in March is a significant and hopeful sign of life in the recovering real estate market. These homes were shopped and deals signed during January and some in February, just as the snow storms were beginning to roll in,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. “This indicates that there are motivated buyers and sellers out there, and they are both eager to make deals happen. The continued limited supply keeps the market from showing substantial improvement.”
In Bristol County, 183 single-family homes were sold in March, a nearly 8 percent decrease from March 2014. The median sales price rose 7.4 percent, however, to $240,750.

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Condominium sales decreased statewide by 6 percent with 1,251 sales, compared with 1,328 in March of last year.

The median price for condominiums sold in March was $302,000, an increase of 3.4 percent from $292,190 in March 2014.
In Bristol County, condo sales fell 58 percent to 22 in March from 52 during the prior year period. The median sales price rose nearly 14 percent to $182,500.

“Condo sales seem to be cooling off, as we are not seeing the big increases in sales that we saw at this time last year. Even so, they are still an attractive option for first-time home buyers or empty nesters dealing with the continued lack of inventory in single-family homes,” Warren said.

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