The Martha's Vineyard Times

In Business : Mass home sales up in June, inventory down

By State House News Service
August 1, 2012

Home sales in June were up more than 18 percent over June 2011, giving Massachusetts a full year of month-over-month increases in sales, the State House News service reported.

The Massachusetts Association of Realtors reported last week that the median sale price for single-family homes last month was flat, compared with June 2011. "While the housing market isn't fully recovered at this point; 12 straight months of year-over-year increases is significant and certainly positive news," association president Trisha McCarthy, broker at Keller Williams Realty in Newburyport, said in a statement. "Prices continue to bump along the bottom and could start to rise, especially if buyers remain active and fewer sellers enter the market."

The median selling price for single-family homes in June was $325,000, the same as in June 2011. The inventory of single-family homes on the market has decreased more than 17 percent since June 2011.