The Martha's Vineyard Times

Home sales rise but overall 2011 pace is off

October 26, 2011

Home sales in Massachusetts are down 10 percent year-to-date through September but were up last month for the third straight month, according to the Warren Group, the State House News Service reported.

Single family home sales in Massachusetts were up nearly 7 percent in September and rose about 10 percent during the third quarter, compared to the same period in 2010. In a statement, Warren Group CEO Timothy Warren Jr. said the numbers are encouraging, but cautioned that "sales volume remains low" since sales at this time last year had dropped off due to the expiration of tax credits.

"At this rate, it is almost certain that 2011 sales volume will be one of the slowest years in recent memory," Warren said. The median price of homes sold in September held at roughly $290,000. It's the first time since April that the median sales price has dropped below $300,000.