Massachusetts Home Buyer Guide

It hasn't happened in more than 10 years. 

The 7,077 single-family homes sold in July 2015 amounted to the most sales for the Massachusetts real estate market since June 2005, The Warren Group, publisher of Banker & Tradesman, reported August 25, 2015.

The last time the Massachusetts real estate market exceeded 7,000 single-family home sales also was June 2005 when there were 7,239 houses sold. Single-family home sales in July increased 24.31 percent compared to the 5,693 homes sold in July 2014.

From January through July there were 28,745 single-family homes sold in Massachusetts, a 6.52 percent increase compared to the 26,985 homes sold during the same period in 2014.

Hampden County saw the largest percentage increase in single-family sales in July at 46.15 percent followed by a 43.48 percent sales increase in Essex County. Nantucket County had the same amount of sales in July as it did in July 2014, and Franklin County saw sales increase by only 1.35 percent.  

Although sales numbers have been strong, home buyers seem to have put the breaks on soaring prices. The median price for a single-family home increased 1.38 percent in July to $359,900 compared to $355,000 in July 2014. Through July the median price increased 1.49 percent to $340,000 compared to $335,000 during the first seven months of 2014.

Massachusetts condominium sales also were strong in July. Condo sales increased 20.07 percent to 2,794 compared to the 2,327 units sold in July 2014. From January through July, there were 12,132 condominiums sold, a 1.8 percent increase compared to the same time frame last year.

The median condo price in July was $337,500, an increase of 3.85 percent from the $325,000 median price in July 2014. Through July the median condo price increased .86 percent to $316,685 compared to $314,000 during the same seven-month period last year.