Along with continuing rising sales, the median price for a single-family home in Massachusetts increased in April, reversing a months-long dip.
According to the Massachusetts Association of Realtors (MAR), the median home price rose 2.7 percent last month, compared to April 2011, to $282,450. That's the first price increase since September 2011. In a separate survey, Boston real estate firm the Warren Group reported that the median home price last month rose 1.1 percent over April of last year to $275,000, reversing a seven-month slide.
“The increased activity we’ve been experiencing over the past several months, which has included multiple-bid situations, is pushing prices up," MAR President Trisha McCarthy said with the released figures.
MAR reported that sales of single-family homes jumped 18 percent last month, compared to April 2011, while the Warren Group recorded a 22 percent increase for the same period.
According to MAR, April was the 10th consecutive month of year-over-year home sales increases, while the Warren Group said it was the ninth month out of 10 with rising sales.
Both reports said statewide sales of condominiums jumped more than 10 percent last month, and the median condominium price increased at least 3 percent.
This program aired on May 22, 2012. The audio for this program is not available.