There were 50,435 single-family home sales in the Bay State last year, about 5,000 fewer than in 2006. That's the lowest level since 1992, according to a recent report from The Warren Group, a Boston-based publisher of real estate data.
Single-family home sales statewide plunged 8.4 percent, from 55,054 in 2006 to 50,435. In December, sales declined 23.3 percent, from 4,074 in 2006 to 3,123 last year, the report said. Meanwhile, home prices continued a steady decline, with the median price falling 4.6 percent, from $325,000 in 2006 to $310,000. The drop was greatest in December, falling 10.5 percent from $309,000 in 2006 to $276,568 2007.
The Warren Group tracks data from real estate transactions at registry of deeds offices.
In Essex and Middlesex counties, home sales and prices also slid. In 2007, home sales fell 4.8 percent in Essex County, and the median price fell 1.5 percent, from $345,000 in 2006 to $305,000 last year. In Middlesex County, overall sales dropped 4.8 percent, and the median sale price fell 2.2 percent from $407,000 in 2006, to $398,000, the report said.
The big drop could weaken the start of the spring selling season. "The large drop in sales and median prices in December signal more woes ahead, and it remains to be seen when Massachusetts will pull out of this slump," said Timothy Warren, Warren Group chief executive officer.
The Peabody-based bank issued 10,050,000 shares to subscribers, at $10 per share. It also contributed 300,000 shares to The Meridian Charitable Foundation Inc., a nonprofit giving arm. The offering raised $100 million in new capital, paving the way for new growth at the $998-million asset bank. "We're going to be in a position to take advantage of some opportunities," said Richard J. Gavegnano, chairman of Meridian Interstate Bancorp., the holding company for the bank.
East Boston, a 159-year-old community bank, has 11 branches, including sites in Everett, Lynn, Melrose, Revere, and Winthrop, and its headquarters in Peabody. It has a mortgage center on Route 1 in Lynnfield.
The stock started trading on Nasdaq on Jan. 23. Bank officials traveled to New York City to ring the closing bell on the country's largest stock exchange.
President from 1957 to 1970, he was active with the retirees chapter. Gary Nilsson, Local 1365 president, remembered him as more than a labor leader. "Joe was always active in his community . . .," he said. "Joe's wit and smile will be sorely missed."
Kathy McCabe can be reached at kmccabe@globe.com.
