Projo Biz Blog

A decline in house prices in the Bay State last month helped boost sales, new data out today shows.

Massachusetts house sales in September rose 5 percent from a year earlier, and the median price dipped below $300,000 for the first time in 5 1/2 years, according to a report released today by the Massachusetts Association of Realtors.

The median price for a single-family house in September was $295,000, the Realtors reported.

Massachuestts house sales during the July, August and September declined 7.9 percent from the third-quarter of last year, and the median price fell 10.4 percent.

Multi-family house sales during third quarter soared 40.3 percent from a year earlier, as the median price plunged 34.7 percent, to $212,500.

Meanwhile, condo sales continued to weaken, with third-quarter sales down 11.5 percent from a year earlier, and the median price declined 2.8 percent, to $280,000. Condo sales in September also fell 6.2%, according to the Realtors.

Comments

Frank said:

In this kind of a market, I think I'll put my head down, pay my mortgage, and enjoy my home.

Link | October 28, 2008 8:10 AM
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