Mass. home sales showed weakness in March
Single-family home sales in Massachusetts fell 14.4 percent to 2,704 in March from March 2010, the Warren Group reported, and the median price for single-family homes sold in March slipped 2.8 percent to $267,250.
March 2011 condo sales dropped 31.6 percent to 1,034 from March 2010, added the Warren Group, a Boston firm that tracks local real estate activity. The median price for condos sold in March was $237,000, down almost 5 percent.
In a statement, Warren Group chief executive Timothy M. Warren Jr. said: "The drop in home sales is another sign of continued weakness in the real estate market. Sales volume has decreased in seven of the past nine months. The only bright spot in the data this month is that the month of March posted the highest number in sales volume so far this year - there were 2,304 and 1,714 sales in January and February, respectively."
Today's results from the Warren Group are roughly comparable to another report issued earlier this week, even though the reports use different methods and focus on different time frames.. According to a story in yesterday's Globe, Boston-area home values slid in February for the seventh consecutive month, based on data released by the S&P/Case-Shiller Home Price Indices, which measure repeat home sales nationwide.