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Further, the single family median home value declined 8.0% on a year-over-year basis to $334,900 while condo median prices declined 0.3% to $295,000.
It’s also important to note that the June single family home sales count was the lowest June count on record since 1995 and at 4225 units sold was 30.90% below the record June peak set in June 2005.
The following charts (click for larger) show the decline in single family home sales since 2005.
Notice that June 2008 registered a home sales count well below even the 2007 level as well as indicating that the July’s results will likely be well below 4000 units, a significant decline.
Stay tuned as next week the S&P/Case-Shiller home price index results will be available for Boston likely showing a continued decline even during the typically strong spring selling season.