Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

April 26, 2006

Up & Down?

by @ 8:47 am. Filed under Real Estate

Single-family home sales in Massachusetts fell 1.5 percent in March according to The Warren Group, publisher of the popular periodical Banker & Tradesman.

March sales of single-family homes in Massachusetts have increased 2 percent according to the Massachusetts Association of Realtors.

Why the contradiction?

The Real Estate Association uses only sales reported in their Multiple Listing Service to calculate their data. The Warren Group gets its information directly from registries of deeds (including us)…therefore, The Warren Group includes ALL sales not just those sold by a real estate agent.

Now that we have cleared up the confusion…
Here are the “Warren Group’s” numbers…

Last month (March 2006) 4,416 single-family homes sold in Massachusetts… in March, 2005 there were 4,482 sales. That’s a decrease of 66 sales. Yes, a rather small number, but more significant in light of the next two facts: First, sales in the state for the entire first quarter were down 8.4% as compared to last year’s first quarter…and…the median sale price in Massachusetts dropped $5,000… from $330,000 to $325,000. Massachusetts real estate trends are converse to the rest of the national. Sales increased 3% throughout the US in March as opposed to our decrease. Even when you look just at the Northeast, things don’t fair well for the Commonwealth. The Northeast Region recorded sales figures that showed a 1.7% increase.

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