Mass Boasts Best July Home Sales in Seven Years

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Thursday, August 30, 2012

Adam Joseph Drici, GoLocalWorcester Contributor

Nearly 5,000 single-family homes were sold in Massachusetts last month, according to a new report from The Warren Group.

The 4,979 houses sold statewide in July represent an increase of more than 25 percent over the 3,922 homes sold in July of 2011.

The last time sales volume in July exceeded its current level was the summer of 2005, when 6,672 homes changed hands.

Real Estate Recovery May Be In The Works

Year to date, over 26,000 homes have sold in the Bay State, also up by roughly a quarter over last year's numbers.

"There are a lot of good signs pointing toward a real estate recovery," said Cory S. Hopkins, editorial director at The Warren Group.

"But we are comparing sales to a very depressed market last summer, so it's important to step back and realign expectations."

Foreclosures and Sales Working Hand in Hand

Last month also saw a spike in the number of foreclosures, with 468 in Worcester County alone.

Some see the increased sales and increased foreclosures as part and parcel in an accelerating real estate market.

"What I'm seeing is these this are happening a little quicker than they were in the past," said Diane DeCiccio, president of the Worcester Regional Association of Realtors.

Wendy Johnson, of Remax Professional Associates in Spencer echoed the sentiment.

"The amount of short sales seems to be overwhelming the number of traditional sales," she said.

"The short sale seems to be the thing in the Worcester area."

According to The Warren Group report, the median price of single-family homes has remained relatively stable compared to last year at $318,000.

Johnson said that homes priced about the median have seen less action in the Central Mass market, but that anything priced below $300,000 has been moving quickly.

Related Articles

• Worcester County Leads State With 468 Foreclosures In July
• NEW: Single Family Home Prices Up, Sales Still Sluggish
• NEW: MA Housing Sales Up in July
• MA Senate to Vote on Bill to Clean Up Foreclosure Crisis
• Mass Housing Market Still Attractive Despite Foreclosures
• NEW: Massachusetts Foreclosures Numbers for May More than Double 2011

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