Trend continues as Massachusetts housing market up again in August

Buyers continued to react to increases in interest rates as home sales and prices closed up again in August. Condominium sales also strong as prices continue to go up. (see graphs below – click on them to enlarge)

REALTORS® are also concerned that rate increases through the National Flood Insurance Program, as a result of the Biggert-Waters Flood Insurance Reform Act, will have a potentially negative impact on the Massachusetts real estate market. Check out our recent blog post on Flood Insurance for more information.

Link to August 2013 news release

Highlights from the release:

  • Single-family home sales were UP 7.1% compared to last year (5,568 homes sold)
  • Single-family median prices were UP 8.8% ($345,000) (11th straight month)
  • Condo sales were UP 6.7% compared to the same time last year (2,269 units sold)
  • The median price for a condo was UP 10.3% ($320,500) compared to last year

August 2013 SF chart

 

 

August 2013 CC chart