Home buyers searching for single-family homes in Wakefield, Massachusetts in 2012 witnessed an improving real estate market, with both sales and median price rising.
The median price of a single-family house in Wakefield, MA increased 3.4 percent in 2012 compared to 2011. The median price stood at $391,000 in 2012, up from $377,988 the previous year. The most expensive single-family home sold for $1,300,000 in 2012.
Single-family home sales increased from 158 sales to 186 sales in 2012, a 17.7 percent increase. Homes sold faster in Wakefield in 2012 too. The average number of days on market for a single-family home decreased from 91 days in 2011 to 83 days in 2012, an 8.8 percent decline.
On the other hand, the median price of condominiums in Wakefield declined a bit while sales increased slightly in 2012.
Wakefield, MA condo sales increased nearly 8 percent. There were 68 condo units sold in 2012, up five units compared to 2012. The median condo price declined 7.1 percent in 2012 to $312,500 from $336,500 in 2011. The most expensive condominium sold for $489,900 in 2012, and the average number of days on the market increase 3.1 percent to 130 days, from 126 days in 2011.
Data Source: MLS Property Information Network