From Banker & Tradesman

Bank-owned property sales made up more than 10 percent of Massachusetts’ single-family home sales transactions in February, approximately five times as many as the same month two years ago, according to The Warren Group, publisher of Banker & Tradesman.

Single-family home sales fell 14.6 percent to 1,825 in February from 2,138 in February 2008. Year-to-date single-family home sales are down 12.5 percent, with 3,732 transactions recorded in the first two months of 2009 compared to 4,264 a year ago.

Of February home sales, 206 were bank-owned properties, representing 11.3 percent of all single-family home sales during the month. In February 2007, there were only 48 sales of bank-owned single-family homes, representing 1.8 percent of sales.

Condo sales plunged to a 13-year low for the month of February. There were 866 condos sold statewide in February, down 30 percent from 1,236 a year earlier. During the first two months of 2009, condo sales plummeted 29.5 percent to 1,672 from 2,372 a year earlier

Read the full story – MA real estate sales



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