real estate

Mass. Realtors: ’11 sales down 1.7%

Posted 1/27/12

WALTHAM, Mass. – Single-family home sales in Massachusetts finished 2011 down 1.7 percent from 2010 while condominium sales dipped 6 percent for the year, the Massachusetts Association of Realtors said this week.

The association reported 39,344 detached single-family homes sold during 2011, down from 40,031 in 2010. The 14,997 condominiums sold for the year was down from 15,954 units in 2010.

While the number of sales dropped in Massachusetts, so did the median sales price, which declined 3.3 percent for single-family homes in 2011 to $290,000 from $300,000 the previous year. The median condominium sales price declined 0.8 percent or the year.

“2012 will be the first year in many that we won’t be comparing sales to a year in which the home buyer tax credit was a factor and it will be interesting to see what type of growth will result from improving unemployment rates and the favorable buying conditions,” said Massachusetts Association of Realtors President Trisha McCarthy.

In December, single-family home sales were down 0.4 percent compared with December 2010, while the median sales price dropped 4 percent year over year to $271,900.

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