Massachusetts Real Estate Lawyer Blog
June was the strongest month for home sales in Massachusetts in two years. 5,498 single-family homes were sold last month, this is a twenty six percent increase from June 2011. This marked the highest volume of sales during any month since June of 2010.
Condominium sales also jumped in June. 2,216 condominiums were sold, which is almost twenty nine percent more than June of last year.
The increases are even more significant because they come without the benefit of the federal home buyers tax credit that was offered in 2010.The chief executive of Warren Group, a Boston company that tracks local real estate, said, “This is just the beginning of a long slow climb out of the depths of a long lousy market.”
Sales prices of the single-family homes remained steady in June. The average dropped only one percent to $322,000, meaning that half of the properties sold were priced higher, and half were lower.
The median price of condominium values rose 6.3 percent compared to June of last year. The median sale price was $313,001.
One complication in tracking the housing recovery is the lack of homes available for sale on the market. The number of single-family homes for sale across Massachusetts dropped 17.4 percent in June to 29,663 listings. Also, condominium listings were down 28.5 percent compared to last year.
If you are looking to purchase or sell real estate, feel free to contact Pulgini & Norton, LLP at (781) 843-2200 or (888) 344-2046, or email us with any questions you may have. Our attorneys offer nearly 40 years of combined legal experience and provide thorough, timely, and results-driven service in many aspects of both residential and commercial real estate.
Cited Sources:
Home sales surge in June, Boston Globe, July 25, 2012