Mass. December home sales essentially flat to close out 2011

Listen to 2012 MAR Presiden Trisha McCarthy discuss the December 2011 and year-end housing numbers.

Today we issued our December 2011/year-end housing numbers and after five straight months of increases, single-family homes sales were essentially flat – down less than half of one percent. We feel that the freak snowstorm back in October created enough of a disruption to the market that fewer people were looking at homes over that week. As a result, closings in December were impacted. It typically takes between 60-90 days to close on a home. December year-over-year sales were down by 12 homes. Condominium home sales were down from the same time last year, but up from November.

Single-family median prices were down from December 2010 and from this past November, while condominium median prices were up both from last year and the month before. (see graphs below).

Single-family home sales in 2011 were down less than two percent from 2010. Condominium sales were down six percent. Median prices were down for single-family homes, but up for condominiums.

Click the link to see the December/year-end 2011 Housing Release.

NAR Data issues
You might have heard that the National Association of REALTORS(R) is re-stating their closed sales data going back to March 2011. We wanted to let you know that our statewide data is NOT impacted by these issues. MAR President Laurie Cadigan explains the reasons in her podcast and you can check out this link to a  Q&A from NAR on the reasons why they are re-benchmarking their data.

Highlights from the release:

* Single-family home sales were down 0.4% compared to last year
* Single-family median prices were down 4.0%
* Condo sales were down 3.1% compared to the same time last year
* The median price for a condo was up 3.8% compared to last year

(click on charts to enlarge)