Real estate sales jump in Quincy, Braintree
August was a mixed month for New England real estate, despite improvements in most of the states in the region.
According to data from RE/MAX of New England, sales of single-family homes and condos rose 8.9 percent compared with August 2012.
Sales in Massachusetts and on the South Shore continued to climb as prices rose. The median price on the South Shore was $525,317, an increase of 3.7 percent over last year, and there were 557 sales, an increase of 29 percent.
Median prices increased in 10 out of 14 towns surveyed, and sales increased in 11 towns.
Quincy experienced a 37 percent jump in year-over-year sales, while its median home price rose to $335,500 (a 12.2 percent increase from $299,000 in August 2012).
In Braintree, prices remained relatively consistent, up just 1.6 percent year over year (currently $350,000 compared with $344,500 last year), but sales in the town soared 78.6 percent during the month.
July to August sales fell 5.1 percent in New England partly because of a sharp drop in Rhode Island’s home sales, which totaled just 448 in August.
“Month-over-month activity shows the New England market slowing down a bit. This seasonal activity is normal as families settle in before school starts,” said Dan Breault, executive vice president and regional director of RE/MAX New England.
Massachusetts experienced steady growth in August, with 7,716 units sold at a median price of $335,000. That marks an 11.1 percent increase in sales and an 8.4 percent increase in prices over August 2012.
But housing inventory continued its downward trend.
“We’re still experiencing a significant decrease in available homes for sale,” said Kimberly Allard-Moccia, president of the Massachusetts Association of Realtors. “Nowadays, if you see a house on the market that’s priced well enough, it’ll be gone in a few days.”
Dan Schneider may be reached at firstname.lastname@example.org.