March 25, 2008
Feb. Home Sales, Prices Tank
By Matthew L. Brown
Detached observers and industry cheerleaders agree: The residential housing market really showed how bad it's tanking in February.
According to the Warren Group , the Boston-based publisher of Banker & Tradesman, the median price of a single-family home in Massachusetts had its biggest monthly decline in 18 years in February.
The median price of a single-family home fell 8.8 percent from $330,000 in February 2007 to $301,000 last month. The drop is topped only by the 11 percent drop home prices took in December 1990.
According to the Massachusetts Association of Realtors , whose data includes only transactions that include licensed real estate agents, the February median selling price for single family homes fell 4.6 percent from $325,000 to $310,000.
The Warren Group said 2,123 homes were sold in Massachusetts in February, a decrease of 19.2 percent compared to February 2007.
The Realtors association reported an even more dramatic 22.9 percent drop in home sales compared to February a year ago.
According to the Warren Group , the Boston-based publisher of Banker & Tradesman, the median price of a single-family home in Massachusetts had its biggest monthly decline in 18 years in February.
The median price of a single-family home fell 8.8 percent from $330,000 in February 2007 to $301,000 last month. The drop is topped only by the 11 percent drop home prices took in December 1990.
According to the Massachusetts Association of Realtors , whose data includes only transactions that include licensed real estate agents, the February median selling price for single family homes fell 4.6 percent from $325,000 to $310,000.
The Warren Group said 2,123 homes were sold in Massachusetts in February, a decrease of 19.2 percent compared to February 2007.
The Realtors association reported an even more dramatic 22.9 percent drop in home sales compared to February a year ago.
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