Massachusetts Home Sales Experience Biggest April-to-May Increase in Past 10 Years

The Massachusetts Association of REALTORS® (MAR) reported that both single-family home sales and condominium sales experienced their biggest April-to-May percentage increase in the past 10 years. While year-over-year single-family home sales were down 10.1 percent in May, this is the smallest decrease since September 2007. May median single-family home prices were also down 9.2 percent compared to last year. The number of condominiums sold in May was down 24.5 percent, with median sales prices down 2.6 percent. On a month-to-month basis, median prices for both single-family homes and condominiums increased by 2.4 percent and 2.7 percent respectively from last month.

“While the number of sales for both single-family homes and condos were down in May, these decreases continue to narrow since the start of the year, which is definitely a move in the right direction,” said MAR President, Susan M. Renfrew, broker/co-owner of Renfrew Real Estate in Greenfield. “It is also a positive sign that median prices on a month-to-month basis continue to move up. However, the 9.2 percent year-to-year median price drop indicates that the growing number of distressed sales continues to have an impact.”

See the rest of the original article at the Massachusetts Association of REALTORS' web site.