Massachusetts home sales reached their highest point for the month of May in seven years, the Warren Group said in a release Tuesday.
A total of 4,820 single-family homes sold in May, up from 4,540 the same month the previous year. This is the highest number of transactions recorded for the month since 2006 when there were 4,948 sales, the Warren Group reported. May was also the first month since January that sales volume increased year-over-year.
“Now that we’re well into the prime spring selling season, activity is increasing for sales volume as expected,” said Timothy M. Warren Jr., CEO of The Warren Group. “We’re expecting home sales to continue to rise on a year-over-year basis this summer. Median prices have increased by double-digit percentages for four straight months and show no signs of slowing.”
However, the Massachusetts real estate market isn't booming in all areas. Year-to-date sales are down, with a total of 16,068 homes selling so far this year, down 0.19 percent from 16,098 during the same period last year, said TWG.
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