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Mass. Home Sales Up, Median Price Up

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The median price of a single-family home in Massachusetts shot up more than 10 percent last month when compared to December 2011, another indication that the state's housing market is on the way to recovery.

The Boston-based Warren Group on Thursday reported that median prices rose 12 percent when compared to December 2011, to $300,000. That's the highest since August and the highest December mark since 2007.

The Waltham-based Massachusetts Association of Realtors reported a 10 percent jump in median prices to $303,500.

The groups use slightly different figures in their calculations.

The Warren Group reported an 18 percent jump in sales last month compared to the previous December, while the Realtors reported a 13 percent jump in December, when sales were up year-over-year for the 18th consecutive month.

Timothy Warren, the group's CEO, said there's also a shrinking number of homes on the market, which is good news for sellers.

"I expect that a lot of people will be making decisions in the next month or so about whether they want to sell their home and put it on the market," he said. "If they did, they would be entering a strong spring market."

With reporting by The Associated Press and the WBUR Newsroom

This article was originally published on January 24, 2013.

This program aired on January 24, 2013. The audio for this program is not available.