BOSTON – Massachusetts single-family home sales fell in September, and so did the median selling price, according to a report released Tuesday by The Warren Group.
A total of 4,335 single-family homes sold in Massachusetts last month, a decline of less than 1 percent compared with the 4,378 sales during the same prior-year period.
From January to September, sales fell 3.1 percent, to 36,733 from 37,925 during the same nine-month period in 2013.
The median price of a single-family home dropped 1.5 percent in September to $320,000, compared with $325,000 a year earlier.
The drop in the median selling price marks the first time prices have fallen year-over-year since September 2012, The Warren Group reported.
But year-to-date, the median selling price increased to $335,000, 3.1 percent more than $325,000 during the prior-year period.
“The decrease in the selling price of single-family homes and the number of sales in September is insignificant,” Cassidy Murphy, editorial director at The Warren Group, said in a statement. “When we look at the increase in the selling price of single-family homes year-to-date, it is clear that the housing market is still dealing with low inventory and pent-up demand.”
Third-quarter sales of single-family homes totaled 15,444, a 4.4 percent drop from the 16,157 sold in third quarter of 2013.
In September, condominium sales statewide decreased 9.5 percent, as 1,626 condominiums were sold in September compared with 1,797 a year ago. Year-to-date, condominium sales rose 1.1 percent to 15,555 from 15,385 during the same period last year. A total of 5,963 condominiums sold in the third quarter, a decline of almost 10 percent from the 6,621 condominiums sold in the third quarter last year.
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The median condominium price rose 3.1 percent in September to $304,500, compared with $295,500 a year earlier. The year-to-date median price of condominiums in the Bay State was $315,000, a nearly 7 percent increase from $295,000 a year ago. The median sales price increased by almost 3 percent in the third quarter, rising to $319,000 from $310,538 in the same period last year.
