There have been 2,821 detached single-family homes sold in Massachusetts during April, a 20 percent decrease from the 3 major,527 homes sold the same time frame this past year, the Massachusetts Association of Realtors reported today; April 2011 home sales were up 13 percent from 2,496 homes bought from March 2011.

The lackluster year-to-year showing indicates that last year's federal buyer tax credit, designed to spur the sluggish US housing market, might have only prompted a short-term involvement in real estate. The temporary program allowed home buyers a tax credit of around $8,000 to buy a home by the end of September and prompted a surge in housing sales around the country.

In any case, the median price tag for single-family homes in April was $279,000 a drop of 8.5 percent when compared with $305,000 in April 2010, the association added.
Within a statement, Massachusetts Association of Realtors president Laurie Cadigan said Despite continued near record-low interest rates, increased affordability, and buyer interest, closed sales continued to be down as qualified buyers held off in April. Were hopeful that because the economy and job market is constantly on the improve, especially in Massachusetts, same goes with buyer confidence.

On a volume basis, the April condominium market within the Bay State was down 26.1 % when compared to same time last year --- 1,567 units bought from April 2010 versus 1,158 units purchased from April 2011, the association said; the April 2011 volume was up 12.1 % from March 2011.

The condominium median selling price in April was up 6.7 percent from the April 2010 median price (from $252,000 to $269,000), the first year-over-year increase since November 2010, the association said.

The Warren Group also issued its regular monthly set of Massachusetts home sales. A Boston firm that tracks local real estate activity, the Warren Group uses a different method than the Massachusetts Association of Realtors uses to take the temperature of the market. Nevertheless, the two reports often reach similar conclusions, and that was the case in the reports for April.

The headline of the Warren Group's latest report Mass. April home sales drop for third consecutive month.

Timothy M. Warren Jr., chief executive of the Warren Group, cited the expiration of last year's federal home owner's tax credit as a big reason for the local housing market's current outlook.

In a statement, Timothy Warren said The year-over-year numbers are dismal because we're comparing to the home buyer tax credit selling boom. We will likely see decreases until the summer.