Last month, 4,358 single-family homes were sold in Massachusetts, up 16 percent from September of last year --- September 2013 was the best September for sales since 2005, the Warren Group said in a Tuesday press release.
The median price of single-family homes rose nearly 16 percent to $323,625 on a year-to-year comparison basis, said the Warren Group, a Boston firm that tracks local real estate activity and the publisher of Banker & Tradesman.
“Despite rising interest rates, home sales have remained high this year, particularly booming in the third quarter,” Timothy M. Warren Jr., chief executive of the Warren Group, said in a statement. “Median prices continue their upward surge with a 16 percent gain. These data show that there continues to be strong demand and a shortage of supply. Twenty six communities are now above their pre-crash high for median price and others are closing in on previous highs.”
In September, condominium sales increased 12.5 percent to 1,800 statewide, the firm added. The September median price for a Bay State condo was $295,250, up 7 percent from the same month a year ago.
In a statement, association president Kimberly Allard-Moccia said: “September closed sales and prices was another example of buyer demand outpacing housing supply and that resulted in the most closed sales in a September since 2005. Interest rates are still low and qualified buyers are still there, but what we need now to get to full recovery is those sellers who are holding off, to make the commitment to sell.”