Massachusetts home prices fell in December
Monthly Massachusetts home prices fell in December for the first time in 13 months, but the the number of sales was up for the first time since June, the Massachusetts Association of Realtors reported this morning.
The median selling price for single-family homes in December was $285,950, down 6.2 percent from $305,000 in December 2009, said the association, which added that there were 3,172 detached single-family homes sold in the Bay State in December 2010, a 5.4 percent increase from December 2009.
The state's condo market was essentially flat in December and the median selling price fell less than 1 percent to $253,368, the association said in a press release.
In a statement, association president Laurie Cadigan said: “Encouraged by favorable conditions in the real estate market and incremental improvements in the economy, buyers were able to push sales into positive territory to close out a very interesting year. With prices starting to come down and interest rates still relatively low, we could see sales levels continuing to improve throughout the first few months of the year. However, we will have to wait and see the impact that the multiple feet of snow we’ve had will have on buyers.”
For the full calendar year of 2010, sales volume was down less than 2 percent, the association said, and the median price for a single-family home was $302,500, up 4.3 percent.