Wakefield Home Sales on the Rise

There were 11 home sales in April compared to 10 in April 2012.

Wakefield single-family home sales continue to outpace last year’s numbers though sale prices have dropped slightly or stayed the same. 

Wakefield saw 11 home sales in April compared to 10 in April 2012. So far in 2013, there have been 41 home sales in Wakefield, which is an increase from 34 over the first four months of 2012. (See how Wakefield compares to Essex County and the commonwealth on the chart at the bottom of the article.)

“While the lack of homes to buy over the past several months kept closed sales down, the surge in the number of new listings to hit the market in April is an optimistic sign,” said 2013 Massachusetts Association of Realtors President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree. “With home prices improving, sellers are finally gaining the confidence they need to list their home. This should help move us closer to a more balanced market.”

Single-family home sales dropped slightly in Massachusetts in April compared to a year ago and the median home price increased for the seventh consecutive month, according to The Warren Group, publisher of Banker & Tradesman.

"The housing market continues to improve, but could be hindered if rising prices cause an affordability issue. Three consecutive months of double digit price increases is slightly concerning," said Timothy M. Warren Jr., CEO of The Warren Group.

"There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume," said Warren. "Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence." 

Other statewide numbers:

  • There were 3,504 single-family home sales in April, a decrease of 1 percent from April 2012. This is the third consecutive month that there has been a year-over-year decrease, according to The Warren Group.
  • Home sales were down nearly 3 percent after the first four months of the year when compared to 2012.
  • Single-family median prices rose almost 14 percent in April compared to a year ago. It’s the seventh consecutive month that the median price increased in Massachusetts.
  • April was the 13th straight month of housing inventory decreases, according to MAR. On the other hand, new listings increased nearly 13 percent compared to a year ago. April saw the most new listings in three years.
  • Detached single-family homes stayed on the market an average of 110 days in April 2013 compared to 126 days in April 2012, according to MAR.

How Wakefield stacks up
Here is how Wakefield compares to the rest of Essex County and the commonwealth: 

Wakefield  2012 2013 Change April sales 10 11 10% Year to date sales 34 41 20.59% April median sale price $364,500 $350,000 -3.98% YTD median sale price $369,000 $370,000 0.27% ESSEX COUNTY 2012 2013 Change April sales 383 415 8.36% Year to date sales 1,209 1,219 0.83% April median sale price $295,000 $349,000 18.31% YTD median sale price $292,500 $315,000 7.69% MASSACHUSETTS 2012 2013 Change April sales 3,541 3,504 -1.04% Year to date sales 11,558 11,244 -2.72% April median sale price $275,000 $313,000 13.82% YTD median sale price $264,000 $294,000 11.36%

Source: The Warren Group

TheLievense June 06, 2013 at 04:08 PM
Great data, hope you make this an ongoing series.


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