Prices Down Sales Up in Massachusetts

via the Boston Globe this a.m.

Falling home prices are drawing out bargain hunters.

New housing data show a healthy pickup in the number of single-family homes sold in recent weeks, while prices continue to drop.

Home sales were up 14 percent in October, over the same period in 2007 – the second straight month sales increased, according to Warren Group, which tracks real estate transactions.

Meanwhile, the median price on a single-family home fell in October by 14 percent, to $285,000 statewide, only the second month in which median prices were below $300,000 since April 2003, Warren Group said. Condominium sales, however, were off slightly for the month, though price declines in that market were more moderate.

Although this captures a small window of the market, real estate agents and housing specialists said the increase in sales reflects a growing number of bargain buyers homing in on sellers who have acknowledged the need to lower prices.

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