Home sales in Virginia and Massachusetts began to slow in September, while prices continued to outpace those from a year ago, according to the Realtor associations in those states.

Virginia’s home sales may be starting to show greater balance between buyers and sellers, with numbers for the month of September showing a modest decrease, according to the Virginia Association of Realtors.

In September, 11,662 sales closed in Virginia, down 0.3 percent from 11,694 sales in September 2004. The September 2005 figure represents a 20.4 percent decrease from the 14,658 sales reported in August.

The areas showing the greatest increases in closed transactions during September included the Charlottesville area, Harrisonburg-Rockingham, the Chesapeake Bay & Rivers area, the Northern Neck, Richmond and South Central Virginia.

Virginia’s median existing-home price for September was $182,450, up 10.9 percent from the year-ago price of $164,475. The median is a typical market price where half of the homes sold for more and half sold for less.

In Massachusetts, sales of detached single-family homes totaled 4,464 in September, up 0.5 percent from 4,440 sales posted in September 2004, the Massachusetts Association of Realtors reported. The September 2005 figure was down 18.6 percent from August’s 5,482 sales.

Sales of condominiums were up 21.9 percent from a year ago, with Realtors reporting 2,133 closings in September compared with 1,750 in September 2004. The September 2005 figure fell 17.8 percent from August’s 2,596 sales.

The median price of a single-family home in the Bay State in September was $360,000, up 4 percent from $346,000 a year ago but down from August’s price of $375,000. The median condo price rose 3.9 percent during the same period, from $259,900 in September 2004 to $270,000 in September 2005, but was down 6.1 percent from August.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
It's not too late to join us for Connect Now today. Participate in workshops, networking and more.REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription