According to the January 28 issue of Banker & Tradesman, there were 50,435 home sale transactions in Massachusetts in 2007, down 8% from 2006 levels, and the lowest annual figure since 1992.
Median sale prices statewide also dropped, from $325,000 in 2006 to $310,000 last year. The median price in 2007 was 10% below peak levels, which reached a record $345,000 in 2005.
As you review these figures, it's important to note that these are for the entire state of Massachusetts, and that there is WIDE variation from region to region and even from town to town.
Bristol and Plymouth Counties were particularly hard hit last year, with total sales declining by more than 10% and median prices falling approximately 8%. In Norfolk County, however, sales fell by less than 5% and the median price dropped 3%.
To learn more about the current market conditions in your town, contact Shep, Bob, or Florence at 781-767-5550. We'd be happy to answer any questions you have.
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