Home Sales Continue Downward
Sales of single-family homes in Massachusetts fell by nearly 13 percent in May compared to May 2007, according to Boston-based real estate tracker The Warren Group.
The Massachusetts Association of Realtors, which includes only real estate transactions that involve Realtors in its research, reported that single-family home sales decreased by 10.1 percent in May. Home sales year-to-date are down 20 percent, The Warren Group said.
The two organizations' numbers were closer with regard to single-family home prices. The Warren Group said prices fell 7.8 percent in May while the MAR said prices were down 9.2 percent. Both organizations noted that the May price decreases were not as dramatic as in recent months.
The median selling price for single family homes in May was $322,500. Condominium sales fell by nearly 30 percent in May, compared to May 2007 while prices increased by 1 percent to a median of $288,000, The Warren Group said.
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