265 million, up 16% from a year ago, and Brooklyn posted an increase of 19% with an average sale price
for Q3 of $525,000.
BOSTON -- The Massachusetts housing market continued to slump in December, capping off a sluggish year where single-family home sales hit their lowest level since 1995 and the median sale price
dropped for the first time since 1993, according to a report released today by The Warren Group.
While large apartments in the West Side's most exclusive co-ops rival those on the East Side in average sale price
, West Side co-ops are the city's most expensive on a price per square foot basis, at an average $949.
Median sale prices
have now fallen in four of the last five months in 2006.
The cost of construction is sometimes as much as 40% higher than the sale prices
of comparable properties.
The fact that sales are still down and condo and single-family home sale prices
are going in different directions underscores how unsettled the Connecticut market still is," said Timothy Warren Jr.
The median sale prices
, often regarded as the more accurate statistic for determining the market's strength, also saw double digit increases for condominiums and cooperatives.
There has not been a drop in both single-family home and condo median sale prices
in the same month since May 1997, when the single-family home median sale price
How is the spread between listing and sale prices
trending over the past 12 months?
The Bedford school district saw median home sale prices
rise by $120,000 going to $890,000 from $770,000, indicating overall continued vitality and strength, county wide.
Home sales have been falling for well over a year, and now we're seeing sale prices
starting to fall," Warren said.
Average sale prices
for Manhattan condominiums escalated to $873,000, an increase of 23%.
Median home sale prices
, meanwhile, continued to rise in each county for the seven-month period.
Fee demonstrates how the continued growth in residential sales and sale prices
, revealed in the market watch, are indicative of the area's prominence as the suburban destination of choice for discerning homebuyers.
The decline in sale prices
in the broad Manhattan Index was negligible," said Clark Halstead, founder and managing partner of the firm that bears his name.