BOSTON, March 24, 2015 – Single-family home sales in Massachusetts rose almost 4 percent in February, according to a new report from The Warren Group, publisher of Banker & Tradesman.
There were 2,166 single-family homes sold statewide in February, compared with 2,083 in February 2014. Year-to date, sales were up slightly by 0.7 percent with 4,854 homes sold compared with 4,819 sold during the same time last year.
The median sales price of a single-family home in Massachusetts in February increased by 8.2 percent to $310,000 from $286,500 last year. This is the fifth consecutive month that median prices have increased. Year-to-date, prices climbed by 5.3 percent to $316,000 from $300,000 in the same timeframe last year.
“Single-family home sales picked up in February after a slow start in January,” said Cassidy Murphy, editorial director of The Warren Group. “Prices, too, increased in February for the fifth consecutive time. With both sales and prices on the rise, we expect this trend to continue as the snow melts and buyers and sellers start to get motivated to make deals.”
Condo sales for the month fell by 1.3 percent with 935 condos sold compared with 947 sold in February 2014. This marked the fourth consecutive month of decreases in condo sales. Year-to-date, condo sales decreased by 6 percent to 1,966 condos sold compared with 2,092 in the same timeframe last year.
The median condo price in the Bay State climbed by 2 percent to $286,000 compared with $281,000 in the same month last year. Year-to-date, condo prices climbed by 1.5 percent to a selling price of $294,250 compared with $290,000 in the same time period last year.
The Warren Group offers a range of real estate products, information services and printed publications, including Banker & Tradesman and The Commercial Record. The company also presents and organizes trade shows and events for a variety of industries, including bankers, mortgage brokers, credit unions and lawyers. Based in Boston, the company was established in 1872 and is now in its fourth generation of family ownership and management. For more information about The Warren Group, visit www.thewarrengroup.com.