September 25, 2007
Aug. housing numbers grim for sellers
By Matthew L. Brown
Massachusetts home prices have dropped consistently almost every month this year, and with single-family home sales down 1.5 percent, August was no different, according to the Warren Group, publisher of Banker and Tradesman.
The Warren Group said August was the 16th straight month in which median home sale prices fell.
Prices fell by 4.9 percent compared to August 2006, from $330,000 to $314,000. It was the seventh month in 2007 when prices fell between 4.5 and 5 percent compared to the year before.
Condominium sales and prices also fell in August, the Warren Group said. Sales were down 2.2 percent compared to August of last year and prices were down 1.1 percent over the same period.
Offering different numbers for August was the National Association of Realtors, which reported that the number of single-family homes sold in Massachusetts in August was up 6.6 percent over last year.
Sale prices were up slightly, the NAR said, and condominium sales were up 3.4 percent.
The NAR only takes into account sales in which real estate agents were involved.
The Warren Group said August was the 16th straight month in which median home sale prices fell.
Prices fell by 4.9 percent compared to August 2006, from $330,000 to $314,000. It was the seventh month in 2007 when prices fell between 4.5 and 5 percent compared to the year before.
Condominium sales and prices also fell in August, the Warren Group said. Sales were down 2.2 percent compared to August of last year and prices were down 1.1 percent over the same period.
Offering different numbers for August was the National Association of Realtors, which reported that the number of single-family homes sold in Massachusetts in August was up 6.6 percent over last year.
Sale prices were up slightly, the NAR said, and condominium sales were up 3.4 percent.
The NAR only takes into account sales in which real estate agents were involved.
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