Single-family homes sales in Boston's Dorchester neighborhood have declined 42 percent from seven sales in February 2013 to just three home sales in February 2014, according to data compiled by the Greater Boston Association of Realtors.
Through the first two months of 2014, there were six single-family home sales, down 33 percent from nine sales during the same period last year.
Through the first two months of 2014, Dorchester, MA has seen a notable decrease in its median single-family home prices. Through February 2014, the median price of a single-family home was $377,000, down 13.9 percent from $438,000 during the same two-month period in 2013. For the month of February, the median sales price dropped by 16.9 percent to $365,000.
Bucking the trend in many Greater Boston Area communities, new home listings in Dorchester have seen a significant increase compared to 2013. Through the first two months of this year, there were 17 new single-family home listings, a 70 percent increase from 10 new home listings during the same two months in 2013. For the month of February, there were 12 new single-family home listings, a 200 percent increase from the four homes listed during February 2013.
So far this year, there have been quite a few more condominiums than single-family homes being sold in Dorchester. Through January and February there were 23 condominium sales, down from 24 during the same two-month period in 2013. For February, there were eight condos sold, down from 10 in February 2013.
In 2014, median sales prices for Dorchester condominiums have decreased 13.5 percent in comparison to 2013. Through February, the median sales price of a Dorchester condo was $265,000, down from $306,250 in 2013. During the month of February, the median sales price stood at $257,000, down 4 percent from February 2013.
In January and February of 2014, there were 42 new condo listings in Dorchester, a 20 percent increase from 35 new listings during the same two months in 2013. In February, there were 24 condominiums listed for sale, once again up 20 percent from 2013.