BOSTON (AP) — Sales of single-family homes in Massachusetts surged by double-digits last month when compared to October of last year according to two organizations that track the real estate market.
The Boston-based Warren Group on Monday said sales shot up by nearly 19 percent year over year, while median prices rose almost 10 percent to $313,050, the highest level since October 2007.
The Waltham-based Massachusetts Association of Realtors reported a year-over-year sales jump of more than 12 percent, and a median price hike of about 12 percent to $320,000.
The organizations use slightly different numbers in their calculations.
Condominium sales and median prices were also up.
Warren Group CEO Timothy Warren Jr. says “pent up demand is still high following several years of slow activity, and the improving economy is helping to boost the market.”
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
MORE LOCAL NEWS FROM CBS BOSTON