Massachusetts home sales, prices fall

BOSTON – Sales of Massachusetts single-family homes and their prices declined in April compared with the same month last year.

The Massachusetts Association of Realtors said home sales fell 20 percent while The Warren Group – a real estate tracking firm – said sales dropped 28 percent. The two organizations use different sources to track home sales.

The Realtors pegged the median home price in April at $279,000, a decrease of 8.5 from a year earlier. The Warren Group reported a median price of $274,000, down 3.9 percent.

In Bristol County, Mass., sales dropped 43.8 percent in April compared with the same month last year while the median sales price fell 3 percent to $225,000, according to The Warren Group.

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Warren Group CEO Timothy M. Warren Jr. blamed the decrease on an unfair comparison. Last year, the real estate market was booming at this time as buyers raced to qualify for a federal homebuyer tax credit that required a purchase-and-sales agreement by April 30.

Realtors association President Laurie Cadigan pointed to the sagging economy as keeping home sales low.

“We’re hopeful that as the economy and job market continues to improve, especially in Massachusetts, so will buyer confidence,” she said.

The Realtors said that 2,821 single-family homes sold last month. The Warren Group put the figure at 2,865 and said that April sales represented the most sales of any month this year.

“Dropping prices can lure buyers into the market,” Warren said. “Hopefully that factor coupled with the spring buying season boosts the market a bit.”

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