Industry News

East Coast real estate markets improve in June

Virginia home-price gains outshine region

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Home sales and prices across Massachusetts, Virginia and South Carolina rose in June from their year-ago levels, according to Realtor associations in those states. In Massachusetts, sales of detached single-family homes totaled 6,084 in June, up 0.5 percent from 6,051 sales posted in June 2004, the Massachusetts Association of Realtors reported. Sales of condominiums were up 19.1 percent from a year ago, with Realtors reporting 2,775 closings in June compared with 2,329 in June 2004. The median price of a single-family home in the Bay State last month was $373,500, up 4.8 percent from $356,350 a year ago. The median condo price rose 8.3 percent during the same period, from $265,000 in June 2004 to $287,000 in June 2005. The median is a typical market price where half of the homes sold for more and half sold for less. In Virginia, home sales totaled 15,526 for June, up 1.5 percent from a year ago when 15,295 sales were reported, according to the Virginia Association of Realtors. V...