Massachusetts Home Buyer Guide

The lack of real estate inventory had Massachusetts home buyers paying more for homes in March 2013 compared to March 2012.

The median price for single-family homes sold in March rose more than 8 percent to $285,000 from $263,000 a year earlier, The Warren Group, publisher of Banker & Tradesman, reported April 24, 2013. March marked the sixth consecutive month that monthly home prices have increased year-over-year. The first quarter median selling price was $282,500, a 10.6 percent increase from $255,500 in the first quarter of 2012.

The price of a single-family home, including distressed properties, in Massachusetts increased 6.7 percent in February compared to February 2012, CoreLogic, a California-based residential property information provider, reported April 3, 2013.

CoreLogic's Home Price Index indicated a 8.2 percent single-family home price increase in Massachusetts when distressed properties were excluded from the data. Distressed sales include short sales and real estate owned (REO) transactions.

Home buyers searching for single-family homes in Wakefield, Massachusetts in 2012 witnessed an improving real estate market, with both sales and median price rising. 

The median price of a single-family house in Wakefield, MA increased 3.4 percent in 2012 compared to 2011. The median price stood at $391,000 in 2012, up from $377,988 the previous year. The most expensive single-family home sold for $1,300,000 in 2012. 

Despite the lack of inventory, Massachusetts home buyers continue their quest for homes. 

Both single-family home sales and median price increased in January compared to January 2012, the Massachusetts Association of Realtors reported February 26, 2013.

Massachusetts real estate prices have increased four straight months, and single-family home sales have shown positive results in 19 straight months.

Brookline, Massachusetts home buyers took part in a real estate market that saw sales increase for both single-family homes and condominiums in 2012.

Single-family home sales increased 7.5 percent in 2012 on 172 sold properties, up from 160 sales in 2011. The median price of a single-family home in Brookline was $1,247,250 in 2012. The median price increased 3.5 percent from $1,205,000 in 2011. The most expensive home sold in 2012 set someone back a cool $10,500,000, more than double the most expensive home sold in 2011 ($4,900,000). 

Sales of existing homes in the United States increased 0.4 percent in January while the supply of homes on the market declined to its lowest level in 13 years, Reuters reported February 21, 2012. 

The National Association of Realtors provided the data. 

January was the second highest rate of sales since November 2009 when the federal home buyer tax credit was set to expire.