MA Single Family Home Prices Drop 12%

The Warren Group reported yesterday that home prices fell to its lowest level in five years in ’08.

The median price for a single family home in MA. dropped by 12% last year to $305,000 down from $345,000 in ’07

A total of 40,124 single-family homes were sold in ’08, down from 45,339 in ’07, according to the Warren Group.