Mass. Home Sales, Prices Rise In August

Sales of single-family homes in Massachusetts rose nearly 14 percent last month, compared with August 2012, The Warren Group reported Tuesday.

A total of 5,925 single-family homes were sold statewide last month. That's the highest number of August home sales since 2005.

Year-to-date, Massachusetts home sales are up more than 5 percent.

"People who had planned to do a real estate purchase or a sale of their home backed off during the recession and did not do that, so now they're eager to get into the market before prices get out of their price range," Timothy Warren, the real estate tracking firm's president, told WBUR.

The median price of a single-family home in Massachusetts increased more than 10 percent in August, compared to the same month last year, to $340,000.

It's the 11th straight month of price increases.

Condominium sales ticked up 2.5 percent last month, and the median price increased nearly 15 percent year-over-year.