Massachusetts Real Estate Companies

December data proves Massachusetts home market is strongest in years

The Massachusetts real estate market is surging into 2016 after a year of double-digit increases in home sales.

Sales of single-family homes rose 10.5 percent in 2015, capped by the busiest December since 2004, with a 16 percent jump in transactions in the year’s final month, according Boston-based real estate publisher and data firm, The Warren Group.

The Bay State’s already sky-high home prices also edged higher in 2015, rising 3 percent to $340,000.

Condo sales are also on a roll, soaring 22.7 percent in December and 7 percent for all of 2015. The state’s median condo price rose 2.2 percent last year, to $316,810.

“The market stayed strong all the way through December because the region’s economy is very strong,’’ said Tim Warren, Jr., CEO of The Warren Group, in a press release. “Buyers felt confident in their futures, and sellers finally saw the value of their homes return to near-peak levels in many parts of the state.’’

Towns and suburbs to the north of Boston have become particularly popular among buyers, posting some of the biggest gains in home sales in 2015.

Sales of single-family homes in Essex County, which includes such seaside communities as Newburyport, Salem, Manchester, and Rockport, saw sales surge by more than 14 percent, while the median price of a home edged up 2.7 percent, to $375,000, The Warren Group reports.

Bedroom communities along the I-95 Boston to Providence corridor also saw a big rise in buyer interest. Home sales in Norfolk County jumped 10 percent while the median price of a home rose nearly 3 percent to $430,000.

The western suburbs of Middlesex County saw one of the biggest increases in median price – 4.7 percent to $460,000 – while sales rose 5 percent.

Suffolk County, which is overwhelmingly made up of Boston, saw a 7 percent increase in home sales but just a quarter percent rise in median price, to $400,000, Warren Group stats show.

And on the South Shore, towns and suburbs in Plymouth County saw sales rise 6.3 percent while prices edged up by 3 percent to $316,000.

Still, the big increase in sales is maybe even more impressive given some of the challenges buyers have faced in one of the nation’s tightest and most expensive housing markets.

The amount of unsold homes on the market actually fell by 13 percent in 2015, with a modest increase in new listings swamped by rising demand, the Massachusetts Association of Realtors reports.

Along with a limited number of homes to consider, buyers also shrugged off an interest rate hike by the Federal Reserve and new federal rules for mortgage closings as well.

“Buyers overcame the ongoing shortage of homes for sale to push closings in December to new heights,’’ said 2016 MAR President Annie Blatz, branch executive at Kinlin Grover Real Estate in Brewster, in a press release.

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List of Massachusetts Real Estate Companies:

Gibson Sotheby’s International Realty 426-6900556 Tremont St
Boston, MA 02118
Hancock Real Estate Co, Inc 227-330084 Charles St
Boston, MA 02114
Boston Luxe Real Estate 267-460075 Arlington St
Ste 500
Boston, MA 02116
Boston Proper Real Estate 262-450049 Gloucester St
Boston, MA 02115
Bulfinch Boston Realty 247-3177255 Newbury St
Boston, MA 02116
Doherty Properties 746-012497 Central St
Ste 402
Lowell, MA 01852
Buyers Brokers Only, LLC 835-590621 Father Francis Gilday St
Ste 112
Boston, MA 02118
Homes by Christine 621-9009295 Dutton St
Ste 1B
Lowell, MA 01852