Bay State Home, Condo Sales Surge By Double-Digit Percentages

BOSTON – Single-family home sales in Massachusetts spiked 45.8 percent in April compared to the same month a year ago, while condominiums sales soared 55.7 percent, according to The Warren Group, publisher of Banker & Tradesman.
Prices for both single-family homes and condos also climbed in April.
“The surge in sales activity continued in April. Single-family home sales have increased year-over-year for 10 straight months and median home prices have been on the rise for five months,” said Timothy M. Warren Jr., CEO of The Warren Group. “There is more confidence about a turnaround in the housing market, but concerns remain about foreclosure activity and unemployment, which are still high.”
Single-family home sales shot up 46 percent to 3,980 from 2,730 in April 2009. It was the most sales for the month of April in five years. Year-to-date sales are up 26.1 percent to 11,286 from 8,953.
The median price for single-family homes sold in April rose 7.1 percent to $285,000 from $266,125 a year ago. The median selling price for the first four months of the year was $280,000, 8.1 percent higher than the $259,000 median price recorded during the same period in 2009.
Statewide condominium sales jumped 56 percent to 1,831 from 1,176 in April 2009. A total of 5,278 condo sale transactions were recorded in the first four months of the year, a 32.6 percent increase from 3,981 the prior year.
The median condo price climbed 5.5 percent to $253,000 in April from $239,900 during the same month in 2009. The year-to-date median condo price rose 8.7 percent to $246,250 from $226,500.