Massachusetts Home Buyer Guide

Quincy, MA Home Sales Strong First Half 2012

The median price and sales of homes in Quincy, Massachusetts increased in the first half of 2012, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service.

Single-family home sales in Quincy, MA increased 13.9 percent in the first six months of 2012, a difference of 25 sales compared to the same period in 2011. The median price of single-family homes were flat in the first half of 2012, rising just $550 compared to 2011. 

Condominium sales rose 38.5 percent in the first half of 2012, an increase of 42 sales compared to the six-month period of 2011. The median price of condominiums increased 9.1 percent in the first half of 2012, a difference of $19,000 compared to the same six-month period in 2011. 

Multi-family home sales rose 3.8 percent, a difference of two sales compared to the first six months of 2011. Multi-family median home prices fell 5.3 percent in the first half of 2012, a difference of $21,250 compared to the first six months of 2011.

Quincy, Massachusetts Real Estate Market Report

                           Sales / Median Price

Single-family Homes:
Jan. - June 2011 – 180 / $299,450 
Jan. - June 2012 – 205 / $300,000

Condominiums:
Jan. - June 2011 – 109 / $209,000 
Jan. - June 2012 – 151 / $228,000

Multi-family Homes:
Jan. - June 2011 – 52 / $399,500 
Jan. - June 2012 – 54 / $378,250

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Massachusetts Home Sales Strong in 2012

Sales of both Massachusetts single-family homes and condominiums rose in August 2012, marking the seventh straight month both property types posted a year-over-year increase, The Warren Group, publisher of Banker & Tradesman, reported September 25, 2012.

A total of 5,118 single-family homes sold in Massachusetts in August, a 20 percent increase from 4,262 sales in August 2011. August was the second time single-family home sales surpassed the 5,000 mark in 2012. Year-to-date sales are up 24 percent at 31,733, compared to 25,581 during the same period a year ago.

As long as economic growth does not slow, the housing market should steadily keep improving. Prices are flat, but that is beginning to change, especially in popular communities. In six to 12 months, home buyers may be wishing they started their home search now.

The median price of single-family homes increased 1.6 percent to $310,000 in August, up from $305,000 a year earlier. The increase in median price in August marks the third straight month that median price exceeded $300,000. The median price for homes sold January through August 2012 was $290,000, down 1.7 percent from $295,000 in the prior year.

In August, condominium sales statewide increased 40 percent, continuing the significant sales volume increase throughout much of this year. A total of 2,432 condos sold in August, up from 1,736 a year ago. Year-to-date condo sales are up nearly 28 percent, rising to 13,040 from 10,173 during the same period last year.

The median condo price dropped 4.3 percent in August to $279,000, down from $291,513 a year earlier. The year-to-date median price of condos in the Bay State is $279,900, up almost 2 percent from $275,000 a year ago.

As prices creep up for single-family homes in popular communities, many first-time home buyers are considering the condo market again.

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Time Running Out to Buy a Foreclosure?

A look at the latest Massachusetts forelcosure activity begs the question of whether time is running out to buy a foreclosure and whether there are any good deals even left. 

Massachusetts foreclosure petitions and foreclosure deeds declined in July 2012.

Read more at Massforeclosed.com.

Scituate, MA Single-family Home Sales Up Q2 2012

The median price of single-family homes in Scituate, Massachusetts decreased in the second quarter of 2012 while sales increased, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service.

Single-family home sales in Scituate, MA increased 18.8 percent from April through June 2012, a difference of 12 sales compared to the same period the previous year. The median price of single-family homes fell 9 percent in Q2 2012, a difference of $44,000 compared to the second quarter of 2011.

Condominium sales declinedl 14.3 percent in Q2 2012, a difference of just one sale compared to Q2 of the previous year. The median price of condominiums rose 41.0 percent in Q2 2012, a difference of $182,450 compared to the previous Q2.

There was one multi-family home sold in the second quarter of 2012 in Scituate, MA, up from zero sales in Q2 of 2011.

Scituate, Massachusetts Real Estate Market Report

             Sales / Median Price

Single-family Homes: 
Q2 2011 - 64 / $490,000
Q2 2012 - 76 / $446,000

Condominiums: 
Q2 2011 - 7 / $445,000
Q2 2012 - 6 / $627,450

Multi-family Homes: 
Q2 2011 - 0 / $0
Q2 2012 - 1 / $525,000

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Haverhill, MA Real Estate Market Comes Back

Home sales in Haverhill, Massachusetts increased in the second quarter of 2012 and median prices were flat for single-family homes while increasing for condos, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service.

Single-family home sales in Haverhill, MA increased 18.3 percent in the second quarter of 2012, a difference of 17 sales compared to the same period in 2011. The median price of single-family homes dipped 0.4 percent in Q2 2012, a difference of only $1,050 compared to 2011.

Haverhill, MA condominium sales jumped 60.5 percent in Q2 2012, a difference of 26 sales compared to Q2 2011. The median price of condominiums also increased, rising 10.4 percent in the second quarter, a difference of $15,100 compared to 2011's second quarter.

Multi-family home sales didn't disappoint either, increasing 43.8 percent in the second quarter of 2012, a difference of seven sales compared to 2011. Multi-family home prices increased 7.6 percent in Q2 2012, a difference of $12,000 compared to Q2 2011.

The Haverhill, MA housing market certainly seems to have turned the corner and is coming back in 2012.

Haverhill, Massachusetts Real Estate Market Report

             Sales / Median Price

Single-family Homes:

Q2 2011 - 93    / $237,500
Q2 2012 - 110 / $236,450

Condominiums:

Q2 2011 - 43 / $144,900
Q2 2012 - 69 / $160,000

Multi-family Homes:

Q2 2011 - 16 / $158,000
Q2 2012 - 23 / $170,000

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Boston Home Prices Rise June 2012

Boston’s housing prices showed strength in June, increasing 2.5 percent on a month-to-month basis, according to the latest Case-Shiller Home Price Index Boston Business Journal.

Boston's June prices slightly outpaced the Case-Shiller national home price index, a 20-city composite that rose 2.3 percent over May's numbers. Boston's home prices were flat on a year-over-year basis.

June marked the third consecutive month in which home prices in all 20 cities rose on a month-over-month basis. The index follows existing home sales in major metropolitan areas and uses 2000 as a base year to measure price changes in a given real estate market.

Needham, MA Single-family Home Sales Jump, Median Price Shows Slight Increase Q2 2012

The median price and sales of single-family homes in Needham, Massachusetts increased in the second quarter of 2012, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service.

The median price of single-family homes climbed 2.2 percent in Q2 2012 compared to the previous year, a difference of $15,000. Single-family home sales in Needham, MA jumped 26.8 percent in the second quarter of 2012, an increase of 26 sales compared to 2011's Q2.

The median price of condominiums slid 5.5 percent in Q2 2012, a decrease of $26,450 compared to the previous year. Condominium sales plunged 38.9 percent in Q2 2012, a difference of seven sales compared to Q2 2011.

Multi-family home prices rose 18.6 percent in Q2 2012, a difference of $117,750 compared to Q2 2011. There were two multi-family homes sold in the second quarter of 2011 and 2012.

Needham, Massachusetts Real Estate Market Report

             Sales / Median Price

Single-family Homes: 
Q2 2011 -   97 / $675,000
Q2 2012 - 123 / $690,000

Condominiums: 
Q2 2011 - 18 / $481,450
Q2 2012 - 11 / $455,000

Multi-family Homes: 
Q2 2011 - 2 / $632,750
Q2 2012 - 2 / $515,000

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Massachusetts Home Sales Continue Upward in 2012

Massachusetts single-family home sales continued at a brisk pace in July, increasing nearly 27 percent compared to July 2011, and posting the highest number of sales for the month since 2005, The Warren Group, publisher of Banker & Tradesman, reported August 29, 2012.

A total of 4,979 single-family homes sold Massachusetts in July, a jump from 3,922 during the same month last year. July saw the best sales volume since 2005, when there were 6,672 sales. So far this year, 26,596 single-family homes have sold in Massachusetts, an increase of 24.8 percent from 21,319 during the same period in 2011, which was a pretty depressed real estate market.

Massachusetts condominium sales also increased in July, rising 34 percent from a year earlier. A total of 1,994 condos sold in July, up from 1,487 a year ago. Year-to-date condo sales were also up almost 26 percent, increasing to 10,611 from 8,437 during the same period last year.

The median price of single-family homes were flat in July, inching up less than 1 percent to $318,000, up from $315,000 a year earlier. July was the second month this year that the median price increased, and the second consecutive month that prices exceeded $300,000. The median price for homes sold January through July 2012 was $287,000, down 1.7 percent from $292,000 in 2011.

The median condo price slipped slightly in July. The median selling price was $295,000, down 0.3 percent from $296,000 a year earlier. The year-to-date median price of condos in Massachusetts is $280,000, up about 3 percent from $272,000 a year ago.