Home sales across the state surged last month, reaching the highest number of transactions recorded for November on record, according to a new report from The Warren Group.
According to the report, there were 5,124 total sales recorded in Massachusetts, a 1.2% increase from November 2016.
November also marked 20 straight months of year-over-year price increases, going back to April 2016. The median single-family sale price increased 5.7% to $369,000, up from $349,000 a year earlier.
The surge is being seen statewide, including in Central Massachusetts.
“Personally, as a Realtor, I have never worked as hard in December in my entire career,” said Judy Patterson, incoming president of the Realtor Association of Central Massachusetts and an agent with Paramount Realty Group in North Grafton.
November sales of single-family homes in Worcester County increased by 6.1% over the previous year, to 762 from 718, according to The Warren Group report. Year-to-date sales in the county are up 1.9%, to 8,070 from 7,917 in the same period in 2016.
The median price of a single-family home in Worcester County was $257,700 in November, an 11.1% increase from November 2016.
Worcester County condo sales also jumped in November, compared to the previous year. The number of condos sold climbed nearly a third, to 206 from 155.
The median condo price in November was $220,000, a 12.8% increase.
Patterson said she saw a lot of activity from both buyers and sellers.
“It’s a very aggressive real estate market we have,” she said. “The interest rates are still a huge factor, and it’s the low inventory.”
Sarah Gustafson, president of the Realtor Association of Central Massachusetts and an agent with Janice Mitchell Real Estate in Holden, added that high housing demand stems from not enough new homes being built to accommodate the growing number of buyers in the market.
Both Gustafson and Patterson said they had seen bidding wars, in which buyers vie with each other to purchase a home.
“It’s been significant this past year,” Gustafson said. “It just depends on the market and the price of the house.”
Tribune Content Agency