Westwood Home Sales Drop in May

for Westwood in the month of May this year were on the decline, with sales being down, according to recent data from The Warren Group.

Through the end of the month, a total of 12 single-family homes sold, compared to 17 in May last year. Total year-to-date sales for 2011 at the end of May this year came to 34 homes, as compared to 52 by the end of May 2010.

What's more, the median sale price for a single-family in Westwood $480,000, 1.05 percent higher than in May 2010. Adding to that, the year-to-date median sale price for May 2011 was $470,000, or 7.84 percent lower than in May 2010.

The median price of Massachusetts homes sold in May increased overall, though, while the number of homes sold dipped by more than 25 percent, according to the Warren Group.

“It’s been a tough start to the year as we’ve been comparing sales volume against the height of the homebuyer tax credit," said Timothy M. Warren Jr., CEO of the Warren Group in a statement. "However, lending standards have also become more stringent which is slowing the recovery in the real estate market. I expect that in the second half of the year comparisons with 2010 will turn positive.”