Massachusetts single-family home sales increased again in June, climbing to the highest level for any month in two years, according to the latest report by The Warren Group, publisher of Banker & Tradesman.
Single-family home sales rose almost 26 percent in June, the fifth straight month of double-digit percentage increases. A total of 5,498 single-family homes sold in June, up from 4,368 a year earlier. This marks the best month for sales since June 2010, when there were 5,662 sales.
Second quarter home sales totaled 13,560, a 28 percent increase from 10,595 in the second quarter of 2011.
“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,” said The Warren Group CEO Timothy M. Warren Jr. “The local consumer confidence combined with low mortgage rates are evidently helping the market a great deal.”
Year-to-date home sales statewide are up 24 percent. From January to June, a total of 21,567 single-family homes have sold, compared to 17,397 during the same period a year ago.
For the second consecutive month, year-over-year home prices decreased slightly. The median sale price of single-family homes statewide dropped almost 1 percent to $322,000 in June, down from $325,000 in June 2011. The year-to-date median sale price is $282,000, down 1.9 percent from $287,500 during the same period last year. Quarterly prices dropped 0.1 percent to $299,900, down from $300,250 during the second quarter 2011.
“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 added.
Bay State condominium sales also rose in June, increasing almost 29 percent from a year earlier. A total of 2,216 condos sold in June, up from 1,723 a year earlier. Year-to-date condo sales are up 23 percent to 8,568 from 6,950 a year earlier.
Condo sales for the second quarter also climbed from a year earlier. In the second quarter, 5,507 condos sold, up more than 31 percent from 4,184 during the same period a year ago.
The median sales price of condos increased again in June. The median selling price was $313,001, up 6.3 percent from $294,500 a year earlier. The second quarter median condo price rose 2.6 percent to $295,000 from $287,500 in the second quarter 2011. The year-to-date median price of condos in the Bay State is $276,500, up about 4 percent from $266,000 a year ago.