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July 25, 2013

June marks big month for Mass. housing market

A three-bedroom Cape on Newport Street in Methuen hit the open market last week for $199,900. This week, its owners are already negotiating with a potential buyer after the offers came rolling in.

Real estate professionals in Massachusetts are reporting that June was the best month for single-family home sales in three years. Data for the first six months of 2013 also shows steadily-rising median sale prices — including increases of 10 percent or more in Andover, Boxford, Georgetown, Groveland, Haverhill, Lawrence and Methuen compared to the same period last year.

“Good signs — steady buyer activity, prices steadily on the increase,” said Matt McLennan, a real estate broker with Century 21 in Methuen. “I think the confidence is there that the market is rebounding.”

There were signs earlier this year of a potential housing turnaround. McLennan said a “very active February and March” has translated into plenty of closings in May and June. For McLennan, it’s been his busiest summer in seven years.

According to The Warren Group, a Boston-based real estate publishing company, in June there were 5,591 single-family home sales across the state. That’s the most sales in one month since June 2010, when 5,662 were sold.

In June 2012, 5,535 single-family homes were sold in Massachusetts.

Statewide home sales in April, May and June totaled 13,915, good for a 2 percent increase from the second quarter of 2012. Year-to-date homes sales in 2013, or from January to June, came in at 21,659, marking a more modest .12 percent increase from the 21,633 sold over the first six months of 2012, according to the data, which was released this week.

“The housing market continues to boom locally, and nationally,” said The Warren Group CEO Timothy M. Warren Jr. in a prepared statement. “As long as mortgage rates and home prices don’t spike too high, we’ll see a very strong recovery year for the market in 2013.”

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