Closed home sales in Wilmington, Massachusetts were 12.3 percent higher in 2016 than they were in 2015, according to data compiled by the Greater Boston Association of Realtors (GBAR). There were 247 closed sales during 2016, up from 220 the previous year. The median sales price for single-family homes was 0.5 percent higher in 2016.
There were 247 closed sales during 2016, up from 220 the previous year. The median sales price for single-family homes was 0.5 percent higher in 2016.
Here are more real estate market statistics homebuyers should know about Wilmington, MA real estate.
1. The median sales price in Wilmington was $440,000 for 2016, up slightly from the 2015 median home price of $438,000. The year ended with a median price of $425,000 for homes sold in December, down 3.4 percent compared to $440,000 in December of 2015. Homebuyers paid an average of 98.8 percent of the original list price in 2016 and 99.2 percent in 2015. The average number of days on the market decreased by two days to 54 in 2016 compared with 56 for 2015.
2. Condominium prices were up by 14.5 percent in 2016. The median sales price for condominiums sold in Wilmington was $403,500 in 2016 compared to $352,500 in 2015. The 30 closed condominium sales in 2016 was a 400 percent increase over the six closed sales in 2015. Condominiums sold for 99.6 percent of the original list price in 2016 compared with 96.3 percent in 2015. Condominiums spent an average of 56 days on the market until sale in 2016, down from 82 days in 2015.
3. The 272 new single-family home listings in 2016 were 8.1 percent less than the 296 new listings in 2015. New listings of condominiums increased 181.8 percent from 11 units in 2015 to 31 new condominium listings in 2016.