Massachusetts Home Buyer Guide

From January through November 2013, the price of a single-family home in Wakefield, Massachusetts increased compared to the same period in 2012, but median condo prices declined, the Massachusetts Association of Realtors (MAR) reported last month.

The median price of a single-family home increased 6.4 percent to $415,000 compared to $390,000 during the same eleven months in 2012. For the month of November 2013, the median price increased to $385,950, an 11.2 percent rise from $347,000 in November 2012.

The number of single-family homes sold in Wakefield, MA between January and November 2013 jumped 20.6 percent to 199 sales, up from 165 sales during the same time period in 2012. There were 16 homes sold in November 2013, a 15.8 percent decline from 19 homes sold in November 2012.

On the other hand, the median price for a condominium in Wakefield decreased between January and November 2013. The median price of a condominium decreased to $266,250, down 14.1 percent from $310,000 during the same eleven months in 2012. For the month of November, the median price dropped by 29.6 percent to $267,500 from $380,000 in November 2012.

The number of condominiums sold in Wakefield, MA between January and November 2013 increased 19.4 percent to 74 sales, up from 62 sales during the same time period in 2012. November condo sales were flat, with 5 condominiums sold in both 2012 and 2013.

According to MAR data, Wakefield saw a decline in real estate inventory in November 2013. The number of single-family homes on the market decreased by 6.3 percent. The number of condominiums on the market plummeted by 22.6 percent.