Home, condo sales decline once more in June

Courtesy of The Warren Group The Warren Group announced Tuesday that year-to-date home sales are down from 21,662 to 21,272, while year-to-date condo sales are up from 8,744 to 9,592.

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Single-family home sales dropped for the fifth consecutive month, according to data released today by the Massachusetts Association of Realtors (MAR).

Single-family home sales fell 1.5 percent from 5,613 in June 2013 to 5,528, the MAR said. Meanwhile, condominium sales fell 1.1 percent over the same period from 2,231 to 2,207.

In a separate report by The Warren Group, year-to-date home sales are down from 21,662 to 21,272, while year-to-date condo sales are up from 8,744 to 9,592.

“Low inventory once again affected the market in June, resulting in a lower number of sales,” MAR President Peter Ruffini said in a statement. “However, we’re hopeful that the influx of new properties added to the market in June will help.”

In Worcester County, home sales rose 7.8 percent, with 736 units sold in June, according to The Warren Group. Condo sales increased 15.9 percent year over year to 146.

Meanwhile, home sales in Middlesex County fell 1.8 percent to 1,388, while condo sales climbed 5.2 percent to 750, The Warren Group found.

Also, the median home-sale price statewide jumped from $351,000 in June 2013 to $365,000 in June 2014, according to MAR, while the median condo price rose from $320,000 to $330,000.

The median price for homes sold in the first six month of 2014 is 4.7 percent higher than in was in 2013, The Warren Group found, while the median condo price is up 8.7 percent.

“Mortgage interest rates are lower than they were last summer, and demand remains high as homebuyers seem to be overcoming the problems with low inventory,” CEO Tim Warren Jr. said in a statement.

New home listings increased 13.2 percent in June to 8,418, the biggest year-over-year jump since May 2013, according to the MAR. New condo listings also rose for the first time in six months, climbing 4.1 percent to 2,687.