Condo sales jump in October

Condo sales in October across the state soared 48.8 percent from a year earlier, according to data released Nov. 27 by the Warren Group, which publishes Banker & Tradesman.

Altogether, 1,607 condos were sold, compared to 1,080 in October 2001. The median selling price inched higher from $253,000 to $255,000.

Year-to-date, sales of condo totaled 16,239 compared to 12,559 during the same period last year, which represents a 29 percent increase.

On the single-family homefront, 4,044 homes were sold in October compared to 3,340 a year earlier. For the first 10 months, 39,491 single-family homes were sold, compared to 32,428 in 2011.

Timothy M. Warren Jr., CEO of the Warren Group, attributed the positive news to the “record low mortgage rates, an improved economy and a growing consumer confidence” not only in Massachusetts but also across the country.