Wednesday, May 24, 2006

New Massacre in Boston?

With the release of the April home and condo sale statistics for Mass, I wonder how long it will be before people take to the streets with pitch forks and shovels in a frothing rage, demanding retribution.

Well maybe that’s going a little too far but the numbers do look bad. It seems pretty clear now that the 9 year run of solid year over year growth is now over.

Ill update this list with the additional information (inventory, multi family stats, days on market, etc.) when the data becomes available.

  1. Single family home sales down 16.5% in April.
  2. Condo sales for Boston down 15.3%.
  3. Year over year median single family home price remained flat at $335,000.
  4. Year over year median condo price declined .4% to $272,340.
  5. Single family Days on the Market increased to 127.
  6. Condo Days on the Market increased to 117.
Additionally, inventory of single families and condos was stated to be up 38.6% during last 12 months by the MA Association of Realtors.