February 1, 2007
Bay state housing market continues cooling trend
By Christina Oneill
Single family home sales in Massachusetts declined 16.6 percent last December, compared with Dec. 2005, according to the most recent monthly sales report from the Massachusetts Association of Realtors. The report underscores a continued decline in sale prices, and a rise in the number of units and days on the market.
In December 2006, 2,980 single-family homes were sold, down from 3,574 sold in December of 2005. The monthly median selling price in December also declined, from $354,000 to $335,000 over the same period, a decline of 5.4 percent. Inventory rose, with 30,651 homes on the market compared to 29,771 a year ago, up 2.9 percent. Homes also stayed on the market longer in ‘06, for an average 138 days compared to 104 days in December 2005.Condo sales also dropped, but prices rose. Condo sales fell 8.2 percent in December, while the median sale price rose to $270,000 from $264,950 a year ago. Inventory rose 13.7 percent from 14,581 units last December to 16,581 units in December of 2006. Time on the market also rose, with average listing time rising to 134 days from 98 days last year.
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