December 18, 2007
Nov. Home Sales Lowest In 16 Years
By Matthew L. Brown
Single-family home sales dropped by 15.4 percent in November compared to the same month a year ago and November was the first month in 16 years that fewer than 3,600 single-family homes were sold in the commonwealth, according to the Warren Group , the Boston-based publisher of Banker & Tradesman.
The November drop was the third straight month for double-digit percentage decreases. Prices were also down when compared to November 2006.
The Warren Group reported a 17.1 percent sales decline in October and an 18.7 percent decline in September.
Year-to-date single-family home sales were down 7.6 percent at the end of November from 50,980 during the first 11 months of 2006 to 47,123 this year.
The median price for single-family homes in November dropped 5.8 percent from $313,000 in 2006 to $295,000 this year, according to the group's traditional method of calculating prices. The year-to-date median price for single-family homes fell 4.7 percent from $327,000 last year to $311,705 this year.
Without the effects of foreclosure deeds figured into their calculations, the Warren Group said the median price of single-family homes has stayed nearly steady year-to-date, and has fallen less than a half percent from $335,000 last year to $334,900 this year. November’s median price, when calculated with this method, fell 1.6 percent from $325,000 to $319,900.
The November drop was the third straight month for double-digit percentage decreases. Prices were also down when compared to November 2006.
The Warren Group reported a 17.1 percent sales decline in October and an 18.7 percent decline in September.
Year-to-date single-family home sales were down 7.6 percent at the end of November from 50,980 during the first 11 months of 2006 to 47,123 this year.
The median price for single-family homes in November dropped 5.8 percent from $313,000 in 2006 to $295,000 this year, according to the group's traditional method of calculating prices. The year-to-date median price for single-family homes fell 4.7 percent from $327,000 last year to $311,705 this year.
Without the effects of foreclosure deeds figured into their calculations, the Warren Group said the median price of single-family homes has stayed nearly steady year-to-date, and has fallen less than a half percent from $335,000 last year to $334,900 this year. November’s median price, when calculated with this method, fell 1.6 percent from $325,000 to $319,900.
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