Black and Buono Blog

Up! Again! It is refreshing to see home sales on the rise, consistently. Massachusetts single-family home sales were up in September for the third straight month when compared to the year-ago month.

Single-family home sales  jumped nearly 10% last month when compared to September 2010.

But on a month-to-month basis, sales dropped nearly 18% compared to home sales in August. Massachusetts Association of Realtors reported that it is typical to see a drop-off between August and September sales figures.

The Boston-based Warren Group, which tracks the state's real estate market, reported a 7% increase.

The boost was credited to historically low interest rates.

There was nearly a 2% increase in the median sales price to almost $295,000. Condominium prices were also up.

If this news give you the confidence and motivation to buy a new home or to sell your existing home, you need a real estate attorney to look out for your interests. Contact Black and Buono.

...By Kiley Black

Sales of single-family home in Massachusetts jumped in July for the first time in six months when compared to the July last year, an encouraging sign for the state's real estate market. This jump reversed the trend that kept the Massachusetts real estate market in a real slump.

The Massachusetts Association of Realtors reports that sales of single-family homes increased more than 14% from July 2010. The Warren Group reported a 7% increase. The organizations use slightly different methods of calculation.

The president of MAR says sales were spurred by affordable prices and low interest rates, although some people may have been scared away from entering the market because of uncertainty over the debt ceiling debate.

Both groups said the median price of a single-family home decreased slightly when compared to the previous July.

While this jump in July home sales is encouraging, there is no doubt about that, the actual picture is skewed a bit because the expiration of the home buyers tax credit expired in June last year which caused a slump in July.

Talk over the past couple months about the debt ceiling has definitely caused some qualified buyers to hold off on making purchases.

Information from Business Week and Boston Herald