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Essex, Middlesex Counties See Steep Price Declines

Essex County saw it's median single-family home price decline 10.6 percent in 2008, and single-family home prices in Middlesex County declined 8.4 percent compared to 2007, The Boston Globe reported February 1, 2009.

The Globe obtained the data from The Warren Group, a publisher of real estate data.

Single-family home sales declined 9.9 percent in Essex County and 12.7 percent in Middlesex County.

"Cities with high foreclosure rates posted the largest price drops, even as sales improved in some places. In Lynn, home sales last year increased 9.8 percent, but the median price dropped 20.4 percent to $206,000. Haverhill, which had a 1.5 percent sales gain, posted a 13.6 percent price drop, to $259,000."

The data also showed that Everett's sales jumped 17.4 percent in 2008, but prices declined 17 percent. Revere's home sales spiked 24.6 percent, but prices tumbled 19.1 percent.

For more real estate market data around Massachusetts, visit the Massachusetts Home Buyer Guide.

Posted Wednesday Feb 04