Median Price of Mass. Single Family Home Up

The median sales price of a single-family home in Massachusetts has risen to its highest level in almost six years.

The Warren Group reported Monday that median prices jumped 9 percent last month when compared to June 2012 to $350,000. The Massachusetts Association of Realtors reported a nearly 7 percent year-over-year jump to just over $350,000. Both said it was the ninth consecutive month of year-over-year price rises and the highest they have been since August 2007.

The organizations use slightly different methods in their calculations.

The Realtors reported a 1.6 percent increase in sales of single-family homes last month, while The Warren Group reported a 1 percent jump.

The Realtors president said concern that interest rates would rise and a lack of inventory helped drive up prices and sales.

[Associated Press]