Mass. home sales dropped in August

Massachusetts home sales dropped nearly seven percent in August while prices climbed slightly, the Massachusetts Association of Realtors (MAR) said Tuesday.

Last month, 5,645 homes were sold, a drop of 6.9 percent compared with August 2013 (5,258 homes). This marked the seventh straight month of year-over-year sales decreases, according to the MAR. Meanwhile, the median home price climbed 1.4 percent over July, representing 23 consecutive months of price increases.

“From a statewide perspective, the market is favorable for sellers as supply remains low and new listings to the market dipped slightly in August,” MAR President Peter Ruffini said in a statement.

In a separate report from The Warren Group, Worcester County saw a 6.82 percent month-over-month decrease in single-family homes in August, while home prices grew faster than the state as a whole, with a 2.62 percent jump over the August 2013.

Sales of single-family homes in Worcester remained steady at 104 homes, compared to 105 in August 2013. Year to date, home sales in the city are down 7.43 percent, the Boston-based firm said.

Meanwhile, condominium sales in the state saw an even greater drop in sales, falling 11.6 percent compared to the previous August, according to the MAR, while prices rose 1.4 percent.

Condominium sales in Worcester County rose 7.86 percent in August compared with August 2013, according to the Warren Group. Median sale prices of condominiums also grew 2.45 percent compared to the previous August, the firm said.