BOSTON, March 22, 2016 – Single-family home sales in Massachusetts rose by 30.8 percent in February, according to a new report from The Warren Group, publisher of Banker & Tradesman.
There were 2,868 single-family homes sold statewide in February, compared with 2,192 in February 2015. Year-to-date, sales were up significantly by 27.8 percent with 6,294 homes sold compared with 4,952 sold during the same time last year.
The median sale price of a single-family home in Massachusetts in February decreased by 4.3 percent to $299,000 from $312,500 last year. Year-to-date, prices fell by 2.8 percent to $310,000 from $319,000 in the same time frame last year.
“With a mild winter behind us and the spring market beginning to heat up, the year is off to a very strong start,” said Timothy M. Warren Jr., CEO of The Warren Group. “Though fairly moderate, the drops in median sale prices for both single-family homes and condos bring welcome relief as the state struggles with high housing costs.”
Condo sales for the month rose by 22.9 percent with 1,150 condos sold compared with 936 sold in February 2015. This marked the 10th consecutive month of increases in condo sales. Year-to-date, condo sales increased by 26.1 percent to 2,480 condos sold compared with 1,967 in the same timeframe last year.
The median condo price in the Bay State decreased by 3.9 percent to $275,250 compared with $286,500 in the same month last year. Year-to-date, condo prices were down 3.2 percent to a median sale price of $285,000 compared with $294,500 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.