Home Prices, Sales Continue Fall In August
The median price of a single-family home in Massachusetts fell 9 percent to $323,000 in August, the lowest August median price in six years, according to Boston-based real estate tracker The Warren Group.
The Warren Group said the state's median single-family home price was dragged down by significant price declines in Central Massachusetts, Cape Cod and the islands. The median August home price in Worcester County dropped 15 percent to $234,000 from $275,000 in August 2007.
The year-to-date statewide median home price was $318,000, a 9.1 percent decrease from $350,000 a year ago.
The Massachusetts Association of Realtors, which only counts transactions that involve real estate agents, said the median August selling price for single-family homes was $325,000, a 9 percent decrease from the $357,000 the association reported in August 2007.
The association said single-family home and condominium sales were down 14.3 percent and 19.2 percent in August, respectively. The Warren group reported a single-family home sales drop of 14.6 percent and condominium sales decrease of 22.4 percent.
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