The median price of a single-family property in Bedford, Massachusetts increased 50.5 percent in April compared to April 2014; however, through April the median price increased just 0.2 percent compared to the first four months of 2014, according to data collected by the Massachusetts Association of Realtors.
In April of 2014 the median sales price was $540,000 and in April 2015 the median sales price was $812,500. The median price from January 2015 through April 2015 was $635,000.
On average, home buyers paid 97.7 percent of the original list price in April of 2014, but only 92.5 percent of the original list price in April of 2015.
Single-family home sales decreased 11.1 percent, with 9 homes sold in April 2014, and 8 sold in April 2015. Pending home sales, which are homes under agreement but not yet closed, increased 38.5 percent in April.
Bedford real estate inventory improved quite a bit in April 2015 compared to the previous April. The number of single-family homes on the market increased from 23 in April 2014 to 38 in April 2015, resulting in a 65.2 percent increase. The months supply of inventory also increased quite a bit, with 1.9 months in 2014 increasing to 3.5 months in 2015, a 88.1 percent increase.
New home listings increased 54.5 percent, from 22 in April 2014 to 34 in April 2015.
There were three condominium sales in Bedford, Massachusetts, with a median condo price of $645,000. Ten condos were sold during the first four months of the year, with a median price of $582,500.
On average home buyers paid 100.7 percent of original list price in April of 2015 for condos and 97.6 percent of the original list price during the first four months of the year.