Massachusetts real estate prices probably haven’t hit bottom.
Median residential prices and sales volume dropped by double digits over the first three months of the year, according to data released yesterday by Warren Group, a company that tracks real estate.
The median price for single-family homes fell 18.2 percent, to $253,500, in the first three months of 2009, compared with the same period last year – marking a record drop during any quarter since Warren Group started charting prices in 1987.
Sales volume also continued to decline, with single-family home sales dropping nearly 11 percent in the first three months of the year, the slowest pace for a first quarter since 1991, Warren Group said.
