Real Estate

Massachusetts home sales spike in April

Massachusetts single-family home sales rose considerably in April from a year earlier, reaching double-digit growth rates, according to studies released Tuesday.

The Massachusetts Association of Realtors reported 3,527 home sales for last month, up 10% and 18% from a month a year earlier, respectively. Data provider The Warren Group said sales climbed 9% and 22% to 3,505 in April.

Median sales prices also grew 2.7% to $282,450 from April 2011, according to MAR, and 1.1% to $275,000, according to The Warren Group.

Timothy Warren, CEO of The Warren Group, attributed the sales and price growth to “low mortgage rates and an improving job market” in Massachusetts. 

“It looks like the months ahead will continue to be positive as the strong spring and summer market heats up,” Warren said in news release. “Typically, June is the biggest month of the year for real estate closings.”

The Warren Group also said the first four months of this year proved better than in 2011. Year-to-date home sales rose 18% to 11,477.

Condo sales also grew in April, up 10% and 12% from a year earlier per MAR and The Warren Group, respectively.

The two outlets use different methods to gather their data. MAR compiles closed sales provided by the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of Realtors and MLS Property Information Network. The Warren Group collects its own data for sales, which include those without a Realtor involved.

The National Association of Realtors reported more modest gains in U.S. annual existing-home sales for April. The measure grew 3.4% from March and 10% from a year earlier. 

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