BOSTON (AP) — Sales of single-family homes were down in Massachusetts last month when compared to April 2014, but median prices rose thanks in part to low inventory and the harsh winter, two organizations that track the real estate market said Wednesday.
The Warren Group, a Boston-based publisher of business data, reported a nearly 8 percent decline in home sales April to April, while the Waltham-based Massachusetts Association of Realtors reported a 6 percent decline.
“The dip in home sales during the month of April is most likely due to the fact that these homes were shopped during the height of the winter weather in February,” said Timothy Warren Jr., CEO of The Warren Group. “Prices, though, continue to rise which tells us that the demand is there and the market is strong. Lack of inventory is the biggest problem.”
The median price rose last month from the previous April a little more than 2 percent to $326,500, according to the realtors association. Median prices of single-family homes have risen 30 of the past 31 months, the association said.
The median price was up 3 percent to $324,500, according to The Warren Group.
The organizations use slightly different figures in their calculations.
Realtors are confident in the market.
“As the spring market progresses, we’re starting to see more homes come on the market and if this trend continues, we should see a very active summer,” President Corinne Fitzgerald said.
Condominium sales and median prices were both down in April compared to the same month a year ago, both organizations reported.
Sales were down almost 13 percent while median prices were down by 4.4 percent, the Realtors said.
The warren group reported a drop of 6.5 percent in sales and a 3 percent fall in median prices.
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