Home Sales Up As Prices Continue Fall
Bay State single family home sales were up 6 percent in the third quarter compared to the same quarter last year thanks to a 4.5 percent increase in September sales.
According to Boston-based real estate tracker The Warren Group, the third quarter's results put the state's year-to-date sales at 3.9 percent behind last year's. About 5 percent of all single family homes sold in the first nine months of the year were bank-owned.
Compared to last year, the median price of a single family home decreased by 1.4 percent to $285,000 in September. The median price for the third quarter was $299,900, a 3.9 percent decrease compared to last year.
Year-to-date, the median price is down 9.5 percent compared to 2008.
The Warren Group said a strong October could help 2009 register sales equal to 2008's totals.
The Massachusetts Association of Realtors reported sales and median price numbers very similar to those reported by The Warren Group. The association includes only transactions that involve a real estate agent in its statistics.
The association said September sales were up 4.6 percent and the median price was $295,000, a decrease of 1.7 percent compared to September 2008.
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