BOSTON (AP) — More single-family homes were sold in Massachusetts last month than in any month in more than a decade, The Warren Group reported Tuesday.
The 7,077 homes sold in the state in July were the most in any month since June 2005, when 7,239 were sold, according to the Boston-based publisher of real estate data.
Sales of single-family homes in July soared more than 24 percent compared with the same month last year.
“July’s numbers are the result of a very strong spring season and are an improvement over the sluggish start to the year,” said Cassidy Murphy, editorial director of The Warren Group. “A rough winter and pent-up demand turned into a strong spring that is a positive sign for the real estate market throughout the state.”
The Massachusetts Association of Realtors reported a 19.5 percent increase in year-over-year sales, the biggest such increase since September 2013.
“Busy buyers in the spring means closed sales in the summer and it was a very busy spring in Massachusetts,” Realtors President Corinne Fitzgerald said.
The organizations use slightly different numbers in their calculations.
Both groups reported an increase of about 1.4 percent in median prices, up to $365,000, according to the Realtors, and up to $359,900, according to The Warren Group.
“While prices are moderating, they continue to be high because the demand is there and the inventory continues to remain low,” Fitzgerald said.
The condominium market also remained strong.
Condo sales jumped more than 20 percent from July to July, according to The Warren Group, while the median price improved nearly 4 percent.
The Realtors reported a roughly 13 percent increase in condo sales and a jump in median price of more than 5 percent.
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