Single-Family Sales Soar in Massachusetts

In the Northeast, data from the third-quarter shows that Massachusetts' housing market may be experiencing a slight uptick. The state recorded its third consecutive monthly increase in single-family home sales during September, based on year-over-year numbers.

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Massachusetts finished the month with 3,482 single-family homes sold, representing a 7 percent increase when compared to totals from September 2010. The state's broader, third-quarter results were also strong, with year-over-year quarterly comparisons showing a 10 percent improvement during the period. By the numbers, Massachusetts' third-quarter sales totaled 11,539 for this year, compared to 10,509 in 2010.

However, the organization releasing the findings, ""The Warren Group"":www.thewarrengroup.com/, was also quick to note that sales remain depressed on a year-to-date basis. Overall, sales show a 10 percent decline compared to the annual total recorded last year at this time.

Timothy M. Warren, Jr., CEO of The Warren Group, said of the statistics, ""It's encouraging to see another month of sales increases. However, sales volume remains low because we are

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comparing to a period last year when sales dropped off after the tax credits expired. At this rate, it is almost certain that 2011 sales volume will be one of the slowest years in recent memory.""

Median pricing for the state's single-family homes continues its stability, with September's data revealing a diminutive 0.5 percent rise year-over-year. Specifically, the median price in Massachusetts was $289,950 versus $288,500 during the same month in 2010.

Third-quarter median pricing showed a small drop year-over-year, coming in at 1.6 percent below 2010 numbers for the same period. Additionally, year-to-date comparisons of median pricing in Massachusetts reveals a 1.3 percent decline from 2010.

The Warren Group also included statistics for condominiums throughout Massachusetts for September and the third-quarter, and most data sets showed decreases, generally speaking. Statewide, condo sales dropped by 2.6 percent year-over-year in September, and year-to-date, sales are depressed by more than 20 percent compared to 2010 recordings.

Still, median pricing for condos in Massachusetts rose by 5 percent over the month on a year-over-year basis, and third-quarter median prices displayed a strong, 10 percent elevation when compared against data from September 2010. year-to-date, median pricing for the state's condos is up by an estimated 4 percent versus the previous year.

The Warren Group is based in Boston, Massachusetts, and the company publishes _Banker_ _&_ _Tradesman_, _The_ _Commercial_ _Record_, and other various association publications. The organization makes its full reports available to the public, and interested parties can access the information online via The Warren Group's ""website"":http://www.thewarrengroup.com/portal/.