condo prices are rising - finally...

Home sales, prices rise in March

Boston Business Journal

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Sales of single-family homes in Massachusetts jumped by 17.5 percent year over year in the first quarter, the first Q1 increase since 2004, according to findings by The Warren Group.

There were 7,310 home sales during the first three months of the year, compared with 6,223 last year. In March alone, home sales jumped 27.6 percent, Warren Group figures show.

Condo sales increased 22.9 percent during the first quarter, according to The Warren Group. For March, sales increased 33.4 percent year over year.

The median price for single-family homes sold in March climbed 7.8 percent to $275,000 from $255,000 a year earlier. It was the fourth consecutive month that monthly home prices have risen year over year. The first-quarter median selling price was $276,750, an 8.5 percent increase from $255,000 in the first quarter of 2009.

The median price for condos sold in March was $249,000, up 8.6 percent from $229,250 in March 2009. The first-quarter median condo price increased 10.7 percent to $243,500 from $220,000 for prior year’s first quarter, according to The Warren Group.

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