Bay State Sales Down in December, Prices Continue to Rise

Bay State Sales Down in December, Prices Continue to Rise

Massachusetts home sales came down for the second month in December, while prices continued to increase at a steady clip,the Warren Group reported Wednesday.

Single-family home sales in the Bay State dropped less than a percent last month to 3,712 from December 2012’s 3,725. According to the company, it was the lowest number of sales recorded in one month since April.

“Low inventory combined with increasing interest rates have slowed the market at the end of 2013,” said Timothy M. Warren Jr., CEO of the Warren Group. “Sales and prices set a torrid pace in the third quarter of 2013 and through October. Now the market is taking a breather.”

Year-to-date, Massachusetts sales were up 4.9 percent, with just under 50,000 sales recorded. Fourth quarter sales were also up compared to the year-ago period, outperforming by 4.5 percent at 11,948 transactions.

The median price of a single-family home in the state last month was $311,125, up 3.7 percent from an even $300,000 last year. December marked the 15th straight month of annual price increases.

For the entire year, the Warren Group reports the median sales price was $320,000, up by $30,000 from 2012.


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