Massachusetts single-family home sales slipped to 2,903 in November, the fifth straight month of year-over-year sales declines and the fourth month this year sales failed to break the 3,000 mark, according to the latest report by The Warren Group, publisher of Banker & Tradesman.

November single-family home sales declined 29.8 percent from the same month last year. Sales also dropped from October, when there were 2,991 sales. Year-over-year home sales decreased in every county expect Nantucket County, where sales climbed almost 12 percent in November.

"As predicted, we are winding down the year on a sour note," said The Warren Group CEO Timothy M. Warren Jr. "In November 2009, home sales were stimulated by the deadline to receive the first-time homebuyer tax credit, making comparisons to this year unfavorable. However, sales last month were higher than November 2008, when only 2,611 single-family homes were sold."

Sales in Massachusetts and all over the nation were boosted in the first half of this year by the second homebuyer tax credit, which expired in June. Now, for the first time this year, year-to-date sales decreased in November. So far this year, 37,718 homes have sold in the Bay State, a 1.3 percent decrease from 38,233 during the same period a year ago.

MANov2010SalesThe median price of single-family homes rose 7.3 percent to $294,000 in November, up from $274,000 a year earlier. The median price for homes sold January through November was $297,500, up almost 4.6 percent from $284,500 in the prior year.

Condominium sales in Massachusetts also declined in November, falling 37.3 percent from a year earlier. A total of 1,154 condos sold last month, down from 1,840 in November 2009. This is the fewest number of condo sales since February. Sales also dipped from October, when 1,182 sales were recorded. Year-to-date condo sales also posted a decrease, dropping 3.7 percent to 16,496 from 17,133 a year earlier.

The median condo price in November jumped almost 7.5 percent. The median selling price was $263,250, up from $244,900 a year earlier. The year-to-date median price of condos in the Bay State is $265,000, up almost 5 percent from $252,500 a year ago.

Bay State Home Sales Drop For Fifth Consecutive Month

by Banker & Tradesman time to read: 1 min
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