People in the market for homes in Massachusetts may now see an opportunity to buy low, but the way prices are going, they’ll be able to buy even lower next month.
Single-family home sales increased by 13.7 percent in October compared to the same month a year ago, according to Boston-based real estate tracker the Warren Group. But year-to-date, single family home sales are still 12 percent behind 2007 and prices are still on a downward march.
The median single-family home price in Massachusetts fell to $285,000 in October, a nearly 14 percent decline from the same month a year ago. Year-to-date, the state’s median single-family home price has declined 11.2 percent, the Warren Group said.
Worcester County, along with Barnstable and Bristol counties saw the steepest October price declines at about 13 percent.
Condo sales and prices also fell in October compared to a year ago, but by 7.4 percent and 5.5 percent, respectively.
The Massachusetts Association of Realtors, which tracks only transactions that involve real estate agents, reported a 6.6 percent October increase in single-family home sales and a 10.6 percent decline in the median single-family home price.
