Massachusetts single-family home sales decline 26% in July as prices rise 4%

THE EXPIRATION of the federal homebuyer tax credit seemed to slow down single-family and condominium sales in July, according to The Warren Group. For a larger version of this graphic, <a href=CLICK HERE. / " title="THE EXPIRATION of the federal homebuyer tax credit seemed to slow down single-family and condominium sales in July, according to The Warren Group. For a larger version of this graphic, CLICK HERE. /"/>
THE EXPIRATION of the federal homebuyer tax credit seemed to slow down single-family and condominium sales in July, according to The Warren Group. For a larger version of this graphic, CLICK HERE. /

BOSTON – Massachusetts single-family home sales in July fell for the first time in a year in year-over-year comparisons, The Warren Group said Tuesday.
The real estate tracking firm said sales fell 26.2 percent compared with July of last year. Home sales in Bristol County, Mass., slipped 28.9 percent.
The Warren Group said last month’s 3,668 sales marked the fewest number of sales in the month of July since 1990.
“It’s disappointing to see such a big drop in sales,” said The Warren Group CEO Timothy M. Warren Jr. “It appears the expiration of the homebuyer tax credit hurt sales volume. Buyers aren’t entering the market as aggressively as they were earlier this year.”
Buyers needed a signed contract in place by April 30 to take advantage of the federal tax credit but have until Sept. 30 to officially close the deal.
While sales slid, the median price statewide rose 3.9 percent to $315,000. In Bristol County, the median price dropped 5.4 percent to $233,000.
Statewide, condominium market prices rose but sales tumbled in July compared with the same month last year. The Warren Group said 1,484 condos sold in July, a 32 percent drop compared with July 2009. The median price increased 2.7 percent to $285,000.
In Bristol County, condo sales slid 51.3 percent to 38 and the median price fell 25.8 percent to $141,000.

The Warren Group Inc. is a provider of New England real estate data and the publisher of Banker & Tradesman and other journals. Additional information is available at TheWarrenGroup.com.

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