Business

Mass. home sales in June post best month in two years

In June, single-family home sales in Massachusetts rose to the highest level for any month in two years, more evidence that the local housing market could be on the mend, the Warren Group reported Tuesday morning.

According to the Warren Group, 5,498 single-family homes were sold in June, up nearly 26 percent from 4,368 a year earlier. This marks the best month for sales since June 2010.

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But for the second consecutive month, single-family home prices fell slightly on a year-to-year comparison basis. The median sale price of single-family homes statewide dropped almost 1 percent to $322,000 in June, down from $325,000 in June 2011, said the Warren Group, a Boston firm that tracks real estate data.

Meanwhile, June Bay State condominium sales jumped nearly 29 percent on a year-to-year basis, the Warren Group said. In June, the median selling price for a Bay State condo was $313,001, up 6.3 percent from $294,500 a year ago.

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In a statement, Warren Group chief executive Timothy M. Warren Jr. said: “It’s common to see strong sales volume once the spring selling market begins, but these numbers nearly parallel sales from two years ago when a government tax credit was being given to buyers. The local consumer confidence combined with low mortgage rates are evidently helping the market a great deal.”

Warren added: “A month of nearly unchanged prices is a promising indicator that buyers are beginning to re-enter the market, and downward pressure on home prices is abating.”

The Massachusetts Association of Realtors issued its own report on monthly housing activity in the Bay State Tuesday morning. The association uses a different method to analyze sales than the Warren Group does.

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According to the Massachusetts Association of Realtors, the median selling price for single-family homes in June was $325,000, which was the same as the same time a year ago.

In a statement, Massachusetts Association of Realtors president Trisha McCarthy said: “While the housing market isn’t fully recovered at this point; 12 straight months of year-over-year increases is significant and certainly positive news. Prices continue to bump along the bottom and could start to rise, especially if buyers remain active and fewer sellers enter the market.”

A front-page story in Tuesday’s Boston Globe noted that condo prices in the core neighborhoods of Boston reached a record high during the second quarter.

Chris Reidy can be reached at reidy@globe.com.
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