Home Prices, Sales Plunge In January
Single family home prices plunged 20.2 percent in January compared to a year earlier, but buyers still were not biting, according to Boston based real estate tracker The Warren Group.
Despite the price drop, home sales in January declined by 10.3 percent compared to the same month a year earlier. During the month, 1,908 single-family homes were sold, the lowest sales volume recorded in the 22 years The Warren Group has been tracking that statistic.
The median price for a single family home fell to $259,250 from $325,000 in January 2008.
The Massachusetts Association of Realtors, which counts only transactions that include real estate agents, said single family home sales were down 12.5 percent in January compared to January 2008 and down 33.8 percent compared to December.
The MAR said the median selling price for a single family home was $263,500 last month, a 17.9 percent decrease compared to January 2008.
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