Warren Group: Mass. single-family home sales post best July in seven years
July sales of single-family Massachusetts homes rose 27 percent on a year-to-year basis, the best July in seven years, the Warren Group reported Wednesday morning.
A total of 4,979 single-family homes statewide sold last month, the best July for sales volume since 2005, the firm said.
The median price of single-family homes inched up about 1 percent to $318,000 from a year ago, added the Warren Group, a Boston firm that tracks real estate activity.
July condo sales in Massachusetts were up 34 percent to 1,994 units sold, and the median condo selling price was $295,000, down 0.3 percent from July 2011, the Warren Group said.
“There are a lot of good signs pointing toward a real estate recovery,” Cory S. Hopkins, editorial director of the Warren Group, said in a statement. “But we are comparing sales to a very depressed market last summer, so it’s important to step back and realign expectations.”
The Massachusetts Association of Realtors issued a separate monthly report Wednesday morning on the Massachusetts housing market. The association uses a different method to measure local real estate activity.
The association noted that July was the 13th straight month of year-to-year increases for sales of single family homes.
“While we’ve hit a ‘baker’s dozen’ with months of sales increases now at 13, prices continue to stabilize,” association president Trisha McCarthy said in a statement. “The probability that home prices will begin a more steady increase is good if the combination of higher buyer activity and lower inventory levels continue. What is needed are more sellers at all levels to insure that price increases happen at a more reasonable pace than during the bubble years.”Chris Reidy can be reached at email@example.com.