Boston, January 27 – There were 4,913 single family-home sales in December in Massachusetts, the highest sales total for the month since 2004, according to a new report from The Warren Group, publisher of Banker & Tradesman.
The 4,913 sales represented a 16.6 percent growth over December 2014, when there were 4,214 single-family homes sold.
The strong month put a cap on a very strong second half for 2015. Overall, single-family home sales grew 10.5 percent in 2015, reaching 54,523 sales compared with 49,327. But through May 2015, there were only 15,238 sales, a 1.7 percent decrease from the first five months of 2014.
Once people were able to get outside, they started buying homes at a remarkable rate. This year starting in June, the market took off like a rocket, posting seven straight months of double-digit sales growth. From June through December, there were 39,274 sales, a 17.2 percent increase over the same stretch in 2014, when there were 33,501 single-family homes sold.
“The weather played a major part in delaying the market early in the year,” said Tim Warren, Jr., CEO of The Warren Group. “But the market stayed strong all the way through December because the region’s economy is very strong. Buyers felt confident in their futures, and sellers finally saw the value of their homes return to near-peak levels in many parts of the state.”
In December, the median sales price for a single-family home was $335,000, a 4.7 percent increase from the December 2014 median of $320,000. Overall in 2015, the median price for a single-family home was $340,000, a 3.0 percent increase from full-year 2014 median of $330,000.
Condos also had a very good month in December, and a strong year overall. There were 1,948 condo sales in December 2015, a 22.7 percent increase from the 1,588 sales in the same month in 2014. There were 22,098 condo sales in 2015 overall, a 7.3 percent increase from 2014 when there were 20,598 sales.
For December’s condo sales, the median price was $314,110, a 1.5 percent increase from December 2014’s median of $309,500. The median price for a condo in 2015 was $316,810, a 2.2 percent rise from 2014’s median price of $310,000.