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| Tue, 12-30-2003 - 1:35pm |
Mass. Single Family Home Averaged $367,350 In November
BOSTON -- Sales of condominiums and single-family homes were up in November compared to the same month last year, but homeowners are still having to dig deeper into their pockets, the Massachusetts Association of Realtors reported Tuesday.
The industry group's latest monthly figures show single family home prices were up 9.4 percent, to an average of $367,350 in November, compared to $335,813 last year. Condominium prices rose 4.8 percent to $264,985 from $252,964 in November 2002.
Condominium sales rose 14.1 percent, to 1,170, in November compared to the same month in 2002, while sales of detached single-family homes rose 4.8 percent, the group reported. Peter Casey, president of the realtors association, said these latest figures include many first-time home buyers who are taking advantage of the improved economy and historically low interest rates. "The economy is clearly picking up, and people are seeing that," he said. And even though prices are up, they are not showing the rapid appreciation of recent years, when many people were priced out of the market, he said.
Copyright 2003 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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