BOSTON – The Massachusetts housing market continued to slump in December, with 54,203 single-family homes sold, a 14.4-percent drop from December 2005 and down 20 percent from 2004, when sales peaked, The Warren Group reported last week.
The number of homes sold is the lowest since 1995, when 51,032 were sold.
The median sale price for a single-family home dropped to $325,000 in 2006, down 5.8 percent from $345,000 in 2005 – the first drop since 1993.
Condominium sales in 2006 fell 12.9 percent, with 30,203 units being sold compared with 34,672 in 2005. The 2006 figure was higher than any year other than 2005, which hit a record level.
The median sale price for Massachusetts condominiums fell 1.2 percent in 2006, to $275,000. The drop was the first since 1992, when the condo median sale price fell 16.6 percent to $70,000.
