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Health & Fitness

September home sales in Massachusetts are the strongest since 2005

Another month of housing data which reflects a very strong recovery in the Massachusetts Real Estate market.  The Warren Group a Boston based company that tracks housing data released a report this week which highlights a housing recovery underway here in Massachusetts.  Some of the highlights include:

  • A total of 4,358 single-family homes sold in Massachusetts in the month of September, a 16 percent increase from the same time a year earlier.  The media price of a single-family home increased to $323,525.
  • Third quarter single-family home sales increase in Massachusetts by 15 percent from the same time a year earlier.
  • Year to date single-family home sales increased in Massachusetts by 12 percent from the same period a year ago.

Condominium sales although not as strong as Single-Family home sales, made some impressive gains during the same periods.

  • A total of 1,800 Condominiums sold in Massachusetts in the month of September, a 12.5 percent increase from the same time a year earlier.  The media price of a Condominium increased to $295,250.
  • Third quarter Condominium sales increase in Massachusetts by 9 percent from the same time a year earlier.
  • Year to date Condominium sales increased in Massachusetts by 4.8 percent from the same period a year ago.

With interest rates near record lows and the Federal Reserve policy of Quantitative Easing in place, buyers continue to be active in the market and home sellers continue to benefit from a shortage of available housing inventory.

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So where is this housing market going?  There are many theories on Real Estate Cycles, like “The Great 18-Year Real Estate Cycle.”  from economist Homer Hoyt back in the 1930’s which by the way predicted a housing bubble in 2008.  Hmmmm… Interesting.  Whether you believe a Real Estate cycle is 18 yrs, 10 yrs or even 7 yrs, the current stage we are in within this cycle calls for many years of growth ahead.  New Homebuyers looking to build equity in a home are taking advantage of these historically low interest rates and entering a housing market poised for future growth ahead.

ABOUT THE AUTHOR: Roger Martin is a Realtor with Century 21 Commonwealth.  Roger is a unique blend of both Realtor and licensed General Contractor with over 20 years of experience building Custom Homes, Renovation and Design.  Serving the Ashland, Brookline, Chestnut Hill, Concord, Dover, Framingham, Lexington, Marlborough, Natick, Needham, Newton, Sherborn, Sudbury, Wayland, Wellesley, Westborough, Weston and surrounding areas.  If you have questions, comments or suggestions for future articles or have interested buying or selling a home, please feel free to contact Roger at (p) 1.508.598.1934 ; (email) rogermartinre@gmail.com or visit my blog at  www.realestateinmassachusetts.org

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