Below is an update on the city's housing market, based on a newly-released data from the Warren Group.
- Home Sales: increased by 3.23 percent to 32 in May.
- Year-to-Date Sales: 112 in May, a 17 percent increase form 95 at the same time last year.
- Median Prices: $3495,750, up 13.07 percent from $350,000 in the same time last year.
- Year-to-Date Median Sale Prices: Increased by 3.38 percent to $367,000 compared to the same time last year.
- Sales forecast: "The spring market has been especially strong in Massachusetts," Warren Group Editorial Director Cory S. Hopkins, said in a statement. "We're expecting home sales to continue to soar this summer, thanks to low mortgage rates and affordable prices luring buyers into the market."
- Sales: up 169.23 percent to 35 last month, from 13 in May of 2011.
- Year-to-Date Sales: a 26.67 percent increase to 77, from 66 at the same time last year.
- Median Sales Prices: 9.03 percent drop to $327,500, compared to $360,000 in May of last year.
- Year-to-Date Sales Prices: 10.46 percent increase to $327,500, up from $269,500 at the same time last year.
- Prices forecast : "Prices are continuing to drop indicating buyers are in the driver's seat, and making good deals," sad Hopkins. "For the second month in a row, the price of a single-family home is less than a condominium, a reflection of low inventory in the condo market and a number of less expensive single-family homes coming on the market in recent months."