Massachusetts Home Buyer Guide

The median price of a single-family home in Massachusetts increased 10.6 percent to $340,000 in August 2013, The Warren Group reported September 24, 2013. 

Last August the median price of a single-family home stood at $307,500. Median prices for single-family homes have increased 11 straight months. Through August 2013, the median price was $325,000, an increase of more than 12 percent from $290,000 during the first eight months of 2012.

A total of 5,925 single-family homes sold in Massachusetts in August, up from 5,204 sales in August 2012. August marked the third time home sales have surpassed the 5,000 mark in 2013. From January through August, home sales are up more than 5 percent at 33,523, compared to 31,851 during the same period a year ago.

Mortgage interest rates, which have moved higher over the past few months, have declined slightly over the past two weeks, so concern that costlier loans would slow the Massachusetts real estate market may ease through the end of the year. 

In August, condominium sales increased 2.5 percent. A total of 2,512 condos sold in August, up from 2,450 in August 2012. August saw the highest number of Massachusetts condo sales for any month since August 2007, when there were 2,965 transactions. Condominium sales through August are up almost 4 percent, increasing to 13,604 from 13,057 during the same eight-month period in 2012.

The median condo price rose 14.7 percent in August to $319,950, up from $279,000 last year.   Median condo prices rose to $295,000 from $279,000, a more than 5 percent increase through the first eight months of August.