Boston Business Journal
A 10.4 percent drop in the number of single-family homes sold in April could be the first sign of moderation in the hot Massachusetts real estate market.
While home sales dropped year over year, the median sale price was up 5.9 percent for the same period.
Last month 3,658 single-family homes were sold, with a median selling price of $349,500.
Market inventory also showed a strong increase last month, to 10.5 percent.
The combination of fewer sales, increased inventory and a moderate price increase points to a softening market, said John Dulczewski, spokesman for the Massachusetts Realtors Association in Waltham, which compiles the monthly sales report.