Massachusetts real estate market heats up

Sales of detached single-family homes in Massachusetts rose 17.4 percent in November from a year ago, according to the Massachusetts Association of Realtors.

There were 4,063 closed home sales in November, up from 3,460 recorded in November 2003.

Sales of condominiums jumped 53.6 percent year-over-year in November to 1,597, compared to 1,040 sales in November 2003.

The median price of a detached single-family home in November was $345,950, up 14.6 percent from $302,000 recorded a year earlier. The median price of a condo climbed 15.9 percent during the same period to $263,000 in November, compared to $226,900 a year earlier.

The Massachusetts Association of Realtors is a professional trade association for licensed real estate practitioners, which serves as the parent organization to the state's 16 local Realtor associations.

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