real estate

Mass. home sales drop to lowest level since 1990

Posted 1/24/12

BOSTON – The number of single-family homes sold in Massachusetts declined 6 percent in 2011 to the lowest level since 1990, The Warren Group said Tuesday.

Bristol County, Mass., sales fell 7 percent for the year and 20 percent in December compared with the same period a year earlier, the real estate tracking group said.

There were 2,864 Bristol County single-family homes sold in 2011, down from 3,076 in 2010. Despite the warm weather in December, there were 217 homes sold during the month, compared with 271 in December 2010.

Along with sales, the median sales price in Bristol County also dropped 4 percent for the year to $225,000 and 7 percent during December to $215,000.

Statewide, The Warren Group reported 38,994 homes sold in 2011, down from 41,389 in 2010. The statewide median sales price declined 3 percent during 2011 to $286,000 from $295,000 in 2010.

"It's a bit disheartening to see a drop in sales in December after gains in sales volume for five straight months," said Warren Group CEO Timothy M. Warren Jr. "December's decline in median prices is the tenth drop in 2011. So prices are still soft, reflecting a slow market.”

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