Report: Mass. home sales hit 2-year high in May

Associated Press Published: June 26, 2012
Advertisement
;

BOSTON (AP) — Sales of single-family homes in Massachusetts climbed to a nearly two-year high last month while prices continued to moderate, according to a new report released Tuesday.

The Warren Group, an independent publisher of real estate data, said 4,510 homes were sold in May, the most in a single month since June 2010. Sales were up about 35 percent compared to May 2011.

It was also the fifth consecutive month that sales had increased on a year-to-year basis.

The report said the median selling price for a single-family home was $289,950, the highest of any month so far this year but still a drop of more than 3 percent from the median selling price of $300,000 a year ago.

"The spring market has been especially strong in Massachusetts," said Cory Hopkins, editorial director of the Warren Group. "We're expecting home sales to continue to soar this summer, thanks to low mortgage rates and affordable prices luring buyers into the market."