Massachusetts home sales down substantially

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Home sales in November tumbled by 11.9% compared to last November, and sales over the first 11 months of 2019 are down 2.3% compared to the same period last year, The Warren Group reported Thursday.

"It's not uncommon for single-family home sales to take a dip towards the end of the year, but a near 12% decline is unprecedented," said Tim Warren, CEO of The Warren Group.

"The last time November Massachusetts single-family home sales declined by a larger percent was nine years ago in November 2010, when sales plummeted almost 30%."

The median home sale price last month was $390,000, a record high for November, and the median home sale price of $400,000 year to date is up 3.9%.

Year-to-date, there have been 22,426 condo sales in Massachusetts — a 1.5% decrease — with a median sale price of $380,000, a 4.1% increase from the first 11 months of 2018.

Tribune Content Agency