HOUSING

Home sales drop in Bristol County

SINGLE-FAMILY home sales in Bristol County, Mass. dropped 14 percent in February compared with the same period in 2011, The Warren Group said Wednesday. For a larger version of this chart click HERE.
Posted 3/28/12

BOSTON – Single-family home sales in Bristol County, Mass. dropped 14 percent in February compared with the same period in 2011, The Warren Group said Wednesday.

The real estate tracking firm reported 140 Bristol County homes sold during the month, down from 162 last February.

With sales falling, the median single-family home price crept up 0.83 percent to $213,750 last month from $212,000 in February 2011.

For the second month in a row, year-over-year sales volume in Bristol County fell while Massachusetts as a whole saw substantial increases in homes sold.

Statewide, February home sales rose 33 percent compared with last year and the 1,765 single-family houses sold was the highest February total since pre-crash 2007.

The rise in statewide sales – including a substantial supply of distressed sales – came with a decline in the Massachusetts median sales price, which dropped 3 percent to $245,000 from February 2011.

“Sales volume has increased in seven of the past eight months. This rebound in the market is starting to look pretty solid," said Warren Group CEO Timothy M. Warren Jr. "The mild winter weather certainly helped, but it's not the only factor boosting sales. Lower unemployment rates, low mortgage rates and attractive pricing are fueling a gradual recovery."

In other areas of the market, Bristol County condominium sales declined 11 percent in February compared with the same period last year, from 28 units sold to 25 units. The median condominium sales price in the county rose 6 percent to $142,000.

Statewide, condominium sales rose 18 percent in February compared with the same period 2011 and the median condominium sales price increased 1.3 percent to $140,000.

In a separate report using different methodology, the Massachusetts Association of Realtors reported statewide single-family home sales rose 27 percent compared with the same period in 2011 and the median single-family home price fell 4 percent to $255,000.

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