The Massachusetts Association of REALTORS® reported today that August median home prices rose a modest 1.4 percent compared to the same time last year, while sales over that period dropped 6.9 percent. This was the 23rd straight month for price increases and the seventh month showing year over year sales decreases.
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Highlights from the release:
- August single-family home sales – Down 6.9% over last year. (5,258 sales in 2014 from 5,645 sales in August 2013)
- August single-family median prices were UP 1.4% to $350,000. Twenty-three straight months of increases.
- August condo sales down 11.6% and median prices UP 1.4% ($325,000)
- Inventory in August down 6.5% to 23,057 and condominiums available down 21.3% to 5,209
- SF listings added to the market in August down 1.4% over last year. (6,233 from 6,319 in 2013)
- Condo listings added to the market down 14.0% over last year. (1,883 from 2,189 in 2013)