The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell
Yesterday, the Massachusetts Association of Realtors released their September 06 statistics… and as you might have expected, the news isn’t good. Home sales dropped 24% while prices fell 5.3% last month. The median price of a single family home slumped to $341,000 a 6% decrease from last year’s $359,900.
September 06 posted the slowest sales in a decade. It is obvious we are in the middle of a market correction. This is the eighth straight month that housing prices in Massachusetts have either fallen or flat lined… And things aren’t much better for condominiums…Condo sales fell 28% last month,…but there is some good news…condo prices didn’t drop in September. The Massachusetts Multiple Listing Service (MLS) currently lists 64,000 properties on the market. This is 14% higher than September 05. It is unlikely that prices will increase or stabilize until the present inventory shrinks.
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