Condo and single-family home sales volume seems to be holding steady, according to data released by The Warren Group, today.
In March, the number of single-family homes sold in Massachusetts was 4,239, down 5 percent from March 2006, the Warren Group said; the median selling price for a single family home in March was $314,900, down 1.6 percent from a year ago.
The number of Massachusetts condos sold in March declined 8.7 percent to 2,366 from March 2006, the Warren Group said, and the median selling price fell 2.7 percent to $267,625, the Warren Group said.
In a statement, Warren Group chief executive Timothy Warren Jr. looked at the market in the context of the first quarter – the first three months of 2007.
“An increase in sales in January – they rose 5.8 percent – balanced out March’s decline and helped the first quarter end on a relatively flat note,” Warren said in his statement. “The declines in median prices also decreased as the quarter went on, starting at 4.8 percent in January and ending at 1.6 percent in March. This is a stark difference from the higher declines in sales and prices that we saw last year and is encouraging for the market. As more buyers come out as the warmer weather approaches, I think we’ll see more of this type of stabilization in the coming months.”
No word yet on condo sales within the city of Boston. It’s my belief that sales volume has been about the same, compared to a year ago (although January was busier than last year) and that sales prices have increased, by a very moderate amount.
Source: Reports predict improving housing market – By Chris Reidy, The Boston Globe