Home sales in Massachusetts continue to perform at exceptionally high levels.
This was just evidenced when the Massachusetts Association of Realtors recently came out with their final results for July that had some fascinating findings. There were 5,339 single-family homes placed under agreement, the most during any month of July in the history of the MAR.
This showed a huge 17% year-over-year improvement, beating out July of 2013’s numbers of 4,554 single-family homes to be put under agreement. It was also the 17th consecutive month of year-over-year increases.
Prices for these types of property excelled as well. They jumped by 3% on this same annual scale from $350,000 to $360,000.
“It’s no surprise to see buyer demand continue its strong pace into the second half of the year,” said Peter Ruffini, MAR’s president, in a statement. “Combined with the fact that new listings to the market were up significantly in June, this should translate into good year-over-year sales numbers for July.”
Condominiums put under agreement were up by 9.9% also. They went up from 1,862 last year to 2,046 units during this year’s month of July. This was also the most amount of condominiums that were put under agreement since July of 2005.
Prices for condominiums were up as well; by 2.6% from $312,000 to $320,000.
Given the strength that our local markets are still experiencing due to the high level of activity and buyer demand, it is likely that similar success stories will soon be reported for this month of August and beyond as well.