Massachusetts Home Buyer Guide

After a dip in home prices from 2009 to 2010, the median price of a single-family home in Wakefield, Massachusetts increased every year through 2013, according to data provided by MLS Property Information Network, Inc. (MLS PIN). 

In 2009, the median price of a single family home in Wakefield, MA was $389,900; however, in 2010, the price dropped to $372,000, then increased at an average of 3.8 percent per year. The biggest spike in price occurred in 2013, when the median price of a single-family home increased by 6.3 percent. In 2013, the median price was $416,000, a cumulative 11.8 percent increase since the price drop in 2010. Median prices for each year were as follows:

2009: $389,900
2010: $372,000
2011: $377,988
2012: $391,000
2013: $416,000

From 2009 through 2013, the annual number of single-family homes sold in Wakefield followed a similar pattern. There were 194 homes sold in 2009, which dropped by 10 percent in 2010, then dropped by another 8.6 percent in 2011. The low point was in 2011 with 158 homes sold. After the dip in sales in 2010 and 2011, the number of homes sold increased through 2013. Sales increased at an average of 19 percent per year, peaking at 226 homes sold in 2013. The most expensive single-family home sold over the five-year period was $1,300,000 in 2012.

According to MLS PIN, the median price for a condominium in Wakefield peaked right in the middle of the five-year period. After a slight increase in 2010, the median condo price reached its peak in 2011 at $336,500. After climbing 6.8 percent that year, the median condo price declined 7.1 percent in 2012, bringing the median price to $312,500. In 2013, the trend continued with a 14.4 percent median price decrease, ultimately bringing the median condo price down to $267,500. Median prices for each year were as follows:

2009: $314,000
2010: $315,000
2011: $336,500
2012: $312,500
2013: $267,500

The number of condominiums sold in Wakefield from 2009 through 2013 fluctuated between 61 sales in 2010 and a peak of 85 sales in 2013. The most expensive condo sale was $595,000 in 2009.

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