January 28, 2008
Consensus: 2007 Bad Year For Mass. Home Sales
By Cory Hopkins
Depending on who you believe, 2007 total home sales in Massachusetts were either bad, or appallingly bad, according to reports issued by both the Massachusetts Association of Realtors in Waltham and The Warren Group, the Boston-based publisher of Banker & Tradesman.
The MAR, which only lists sales that involved a registered Realtor, reported a 4.3 percent decline in single family home sales in 2007 compared to 2006. The Warren Group reported an 8.4 percent decline year-over-year.
The Warren Group reported 50,435 single-family home sales in 2007, while the MAR said 41,510 homes were sold.
In an effort to put a positive spin on the numbers, the MAR said 2007 finished as the eight best year on record for residential home sales. The Warren Group pointed out that sales were at their lowest since 1992.
Slumping sales led to more days on the market on average for both single family homes and condominiums, the MAR said. Single -family homes stayed on the market for 139 days in 2007, while condos stayed for 135 days, up from 122 and 116 days, respectively, in 2006.
In Worcester County, 6,604 single-family homes were sold in 2007, down 13 percent from 2006, according to The Warren Group.
The MAR, which only lists sales that involved a registered Realtor, reported a 4.3 percent decline in single family home sales in 2007 compared to 2006. The Warren Group reported an 8.4 percent decline year-over-year.
The Warren Group reported 50,435 single-family home sales in 2007, while the MAR said 41,510 homes were sold.
In an effort to put a positive spin on the numbers, the MAR said 2007 finished as the eight best year on record for residential home sales. The Warren Group pointed out that sales were at their lowest since 1992.
Slumping sales led to more days on the market on average for both single family homes and condominiums, the MAR said. Single -family homes stayed on the market for 139 days in 2007, while condos stayed for 135 days, up from 122 and 116 days, respectively, in 2006.
In Worcester County, 6,604 single-family homes were sold in 2007, down 13 percent from 2006, according to The Warren Group.
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