Home and Condo Sales Rise in August for Bay State: Report

Sales for single-family homes and condominiums in Massachusetts posted yearly increases in August, according to a report from ""The Warren Group"":http://www.thewarrengroup.com/, publisher of Banker & Tradesman.

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The increase marks the seventh consecutive month of yearly price gains.

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In August, 5,118 single-family homes sold in the Bay State, a 20 percent gain from August 2011. Year-to-date, sales stood at 31,733, an increase of 24 percent from the same period a year ago.

Condominium sales jumped 40 percent to 2,432 in August, up from 1,736 a year ago.

Year-to-date, condo sales totaled 13,040, up nearly 28 percent from the same period last year.

""One more month of strong home sales confirm speculation that the housing market recovery is underway,"" said The Warren Group CEO Timothy M. Warren Jr in a statement. ""Even though we are comparing to a slow August last year, the consistent sales volume of 4,000 to 5,000 in the past few months is a promising indicator.""

The median price of single-family homes was $310,000 in August, up 1.6 percent year-over-year. Year-to-date, prices were down 1.7 percent from the same period last year.

The median condo price registered a 4.3 percent decrease in August, falling to $279,000 from $291,513 a year ago. The year-to-date median price for condos rose nearly 2 percent to $279,900.