Mass. Home Sales Jump In August

Sales of single-family homes in Massachusetts rose more than 20 percent in August, compared to the same month last year, according to two reports out Tuesday.

There were 5,118 homes sold statewide last month, The Warren Group reported, up from 4,262 sales in August 2011. The group said it was the seventh straight month of year-over-year increases.

According to the Massachusetts Association of Realtors, there were 5,077 homes sold statewide last month, compared to August 2011's 4,136 sales. The association said it was the 14th staight month of year-over-year sales increases.

Year-to-date home sales are up 24 percent, compared to last year, according to The Warren Group.

"It certainly feels like it can continue," said Cory Hopkins, The Warren Group's editorial director. "The market fundamentals are pretty strong right now. There's a lot of demand. Interest rates remain very low. So hopefully what we're seeing is the fact we've turned the corner and are now on an upward swing."

The real estate publisher said the median price of single-family homes increased 1.6 percent in August, to $310,000. The Massachusetts Association of Realtors reported that the median home price was $317,750 last month.

Both reports said statewide condominium sales increased at least 25 percent in August, compared to the same month last year. The Warren Group said the median condo price dropped 4.3 percent in August, to $279,000, while the Massachusetts Association of Realtors said the median price increased 0.7 percent to $292,000.