Massachusetts home sales for 2011 sunk to levels last seen more than two decades ago, according to a study released Tuesday.
Single-family home sales in 2011 fell nearly 6% from 2010 figures to 38,994 sales — the fewest since 35,819 in 1990, real estate data provider The Warren Group said in a new report. Condo transactions dropped off as well, as sales tumbled 16.2% in 2011 from the previous year to 15,122 — the lowest total since 1995.
Median price for single-family homes fell 3% for 2011 to $286,000, though condo prices rose 2% to $270,000.
December sales reflected the year as a whole, as home and condo sales declined 5% and 15.8%, respectively, from a month earlier. December is traditionally a slow sales month.
In another sales take, the Massachusetts Association of Realtors said Tuesday single-family home sales finished down 1.7% from a year earlier at 39,344. Condo sales declined 6% to 14,997 units.
Single-family median home price fell 3% to $290,000 from $300,000 in 2010. Condo median price ticked up 0.8% to $267,000.
For December, the trade group said home sales rose about 4% from November, but declined 0.4% from the prior year. Condo sales jumped 11.2% month-to-month and fell 3.1% from 2011.
Median sales price for homes dropped 3.1% for homes year-over-year, while condo prices increased 3.8%.
MAR said single-family inventory fell to 7.3 months of supply in December from 8.9 months in November and eight months a year earlier. Condos had a six-month supply, down from 7.9 months in November and 7.5 months in December 2010.
The Massachusetts trade group compiles closed sales provided by the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of Realtors and MLS Property Information Network. The Warren Group said it collects its own data for sales, which include those without a Realtor involved.
Write to Andrew Scoggin.
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