Massachusetts Home Buyer Guide

Massachusetts homebuyers bought more single-family homes in November than any November since 2005, Boston.com reported December 27, 2012. 

Sales of single-family homes reached 4,539 last month, an increase of 38 percent from November 2011. November marked the 11th consecutive month of sales increases. The Warren Group, publisher of Banker & Tradesman, provided the data. 

The Massachusetts Association of Realtors, which uses a different methodology to track sales, reported December 27, 2012 that single-family sales increased 29.2 percent. 

The median price of single-family homes increased 2 percent to $275,000 in November compared to the previous November. From January to November single-family home prices were flat. The median price stood at $288,000, a 0.35 percent decrease compared to the same period last year.

Condominium prices continued to rise in 2012. The median price of a condo in November increased to $275,000, a more than 7 percent increase compared to November 2011. Between January and November, median condo prices increased by 2 percent to $276,000.

Homebuyers purchased 1,635 condos in November, a 33 percent increase compared to the previous year. From January through November, condominium sales increased 27 percent compared to 2011.

In their quest to purchase a home, many homebuyers also are taking advantage of Massachusetts first-time home buyer programs and, of course, the historically low mortgage interest rates.