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Median Home Price in Melrose, MA 12.3 Percent Higher Since 2009

Feb 6, 2014 3:31:00 PM

Since 2009, the annual median price of single-family homes in Melrose, Massachusetts has increased, according to data provided by MLS Property Information Network, Inc (MLSPIN).

Melrose, MA Median Home PriceIn 2009, the median price of a single-family home in Melrose, MA was $386,875. Median home price increased 5.1 percent in 2010, and then dropped by 1.8 percent in 2011. After the slight decrease in price, single-family home prices increased. The most significant annual increase took place in 2013 when the median price rose 8.6 percent. In 2013, the median price was $434,500 for a single-family home, an overall 12.3 percent increase since 2009. Median prices for single-family homes for each year were as follows: 

2009: $386,875

2010: $406,650

2011: $399,000

2012: $400,000

2013: $434,500

Since 2009, the annual number of single-family homes sold in Melrose increased each year. The least amount of homes sold in a year was 158 in 2009, and sales peaked at 249 homes sold in 2013. The most expensive single-family home sold over the five-year period was sold in 2012 for $1,272,500.

According to MLSPIN, the median price for a condominium in Melrose fluctuated between 2009 and 2013, but reached its peak in 2013 at $269,950. After climbing just 2 percent between 2010 and 2011, the median condo price plummeted by 12.4 percent in 2012. The median price in 2012 was $210,000, down from $239,900 in 2011. After the drop, the annual median price skyrocketed 28.5 percent in 2013. Median condo prices for each year were as follows:

2009: $240,000

2010: $234,750

2011: $239,900

2012: $210,000

2013: $269,950

Similar to the trends in prices, the number of condominiums sold in Melrose between 2009 and 2013 fluctuated. The lowest number of sales was 52 in 2010, and at its peak in 2013, there were 72 condo sales. The most expensive condo sold over the five-year period was $640,000, sold in 2013.

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Image courtesy of ddpavumba / FreeDigitalPhotos.net 

Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Melrose MA

   

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