Prices and volume of home sales in the Commonwealth dropped in May, compared to May, 2006.
According to the Warren Group, the publisher of Banker & Tradesman, the median price of a single-family home in Massachusetts was $315,000 in May, down 4.6 percent from a year ago when the median was $330,000.
… the volume of single-family homes sold in May took its biggest hit so far this year, falling 9.1 percent to 4,765 from 5,242 in May 2006.
The Warren Group, in contrast, reported that the number of condos sold in May fell 2.1 percent to 2,981 from a year ago, and the median price for a condo fell 3.5 percent from $285,000 in May 2006 to $275,000 in May 2007.
The Massachusetts Association of Realtors also released sales results, but their data is not as inclusive as The Warren Group’s, and should be disregarded.
No word yet on city of Boston prices or number of sales. I have to say, things sure seem to be steady, within the city limits. I don’t know if the data will back up my assertion.
Now, if you’ll excuse me, there’s a Margarita with my name on it, waiting for me.
Source: Housing sales continue to slump – By Chris Reidy, The Boston Globe