August 29, 2011
In reports released today, both the Warren Group and the Massachusetts Association of Realtors (“MAR”) cited positive growth in the Massachusetts real estate market.
The Warren Group, which publishes Banker & Tradesman, reported a 9.6% increase ($285,000 from $260,000) in the median sales price for Massachusetts single family homes from January 2009. The group also reports an increase in sales volume of 11.8% over January 2009.
Similarly, a MAR report for the same time period states that the median sales price for single family homes was $300,000 in January 2010, up 14.1% from $263,000 in January 2009.
The Warren Group and MAR employ slightly different methods to track activity.
Both organizations are quick to reference the tax credit and low interest rates as the primary contributors to the spike in activity and prices.