Massachusetts Home Buyer Guide

From January through November 2013, the price of a single-family home in Burlington, Massachusetts increased compared to the same period in 2012, the Massachusetts Association of Realtors reported last month.

The median price of a single-family home increased 7.7 percent to $420,000 compared to $390,000 during the same eleven-month period in 2012. In November 2013, the median price increased to $410,000, a 0.6 percent increase from $407,500 in November 2012.

The number of single-family homes sold in Burlington, MA between January and November 2013 rose 5.8 percent to 183 sales, a slight increase from 173 sales during the same time period in 2012. There were 11 homes sold in November 2013, a 31.3 percent decrease from 16 homes sold in November 2012.

Contrary to many Massachusetts communities, Burlington saw a slight increase in single-family home inventory in November. The number of single-family homes on the market rose by 5.7 percent.

The median price for a condominium in Burlington also increased between January and November 2013. The median price of a condominium jumped to $442,500, a 23.6 percent increase compared to $357,950 during the same eleven months in 2012; however, for the month of November, the median price on three sales plummeted to $220,000, a 50.9 percent decrease from $447,950 in 2012.

The number of condominiums sold in Burlington, MA between January and November 2013 rose 10.5 percent to 42 sales, a slight increase from 38 sales during the same time period in 2012. There were 3 condominiums sold in November 2013, a 50 percent increase from just 2 condominiums sold in November 2012.

Burlington saw a decline in condominium inventory. In November 2013, the number of condominiums on the market dropped by 80 percent.