Years, Sales up for 3rd Straight Month
The Massachusetts Association of REALTORS (MAR)
reported today that both June sales and median prices were up and
reached their highest points in several years. Both June
condominium sales and prices were also up after prices had ticked
down in May.
Rising median prices and the high number of closed
sales in June are a good reflection of how active the Massachusetts
real estate market was this past spring, said 2013 MAR President
Kimberly Allard-Moccia. The growing concern that our
historically-low interest rates would move higher and the continued
lack of inventory prompted buyers to make offers that boosted up
both prices and sales in June.
There were 5,528 detached single-family homes sold
this June, a 1.6 percent increase from the 5,440 homes sold the
same time last year. This is the third straight month of
year-over-year increases and the most homes sold in one month since
August 2005 when there were 5,662 homes sold. On a month-to-month
basis, home sales were UP 16 percent from 4,755 homes sold this
past May.
The median selling price for single-family home in
June was $350,050 which was UP 6.9 percent from $327,500 in June
2012. This makes the ninth straight monthly year-over-year increase
and the highest median price since August 2007 when the median
price was $357,000. On a month-to-month basis, the June median
selling price went UP 8 percent from $325,000 in May 2013.
There were 2,188 condominiums sold this June, an
increase of less than a half percent (0.4%) from the 2,179 condos
sold the same time last year. This is the 18th straight month of
year-over-year increases and the most closed sales in a month since
June 2010 when there were 2,192 condos sold. On a month-to-month
basis, condominium sales were UP 12 percent from 1,954 homes sold
this past May.
The median selling price for condominium in June was
$320,000 which was Up 2.9 percent from the $311,000 median price in
June 2012. On a month-to-month basis, the June median selling price
was Up 10.3 percent from $290,000 in May 2013.
About the Massachusetts Association of
REALTORS:
Organized in 1924, the Massachusetts Association of
REALTORS is a professional trade organization with more than 19,000
members. The term REALTOR is registered as the exclusive
designation of members of the National Association of REALTORS who
subscribe to a strict code of ethics and enjoy continuing education
programs.