Massachusetts Home Buyer Guide

The number of completed foreclosures in the United States declined 19 percent in January compared to January 2013, CoreLogic, a residential property data provider, reported February 27, 2014.

There were 48,000 completed foreclosures across the United States, down from 59,000 in January 2013. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.

The price of homes in Boston were 9.6 percent higher in December 2013 compared to December 2012; however, home prices declined 0.1 compared to November 2013, according to the S&P/Case-Shiller Home Price Index, a survey of home prices in 20 metropolitan areas. The report was released February 25, 2014.

Massachusetts single-family home sales increased 5 percent in January 2014, reaching the highest number of sales recorded for any January since 2007, The Warren Group, publisher of Banker & Tradesman, reported February 25, 2014.

The jump in single-family home sales came after two months of modest decreases in sales that had many in the real estate industry wondering whether the Bay State housing market would slow down in 2014.

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:

It has been a bumpy ride, but median price of a single-family home in Shrewsbury, Massachusetts has increased nearly 17 percent from 2009 through 2013, according to data compiled from MLS Property Information Network, Inc.

The median home price dropped from 2009 to 2010, increased in 2011, declined in 2012 and rose again in 2013. 

Since 2009, the median price of a single-family home in Sharon, Massachusetts has steadily increased, according to data provided by MLS Property Information Network, Inc.

In 2009, the median price of a single-family home in Sharon, MA was $377,000. The prices increased at an average of 6.7 percent each year. The biggest annual increase in price was in 2013, when the median price skyrocketed by 17.5 percent. By 2013, the median price was $487,750, a cumulative 29.3 percent increase over the five-year period. Median prices for each year were as follows:

In December 2013, the median price of a single-family home in the West Roxbury section of Boston increased 5 percent compared to the median price in December 2012, according to data compiled by the Greater Boston Association of Realtors. 

The median price for a single-family home in West Roxbury, MA in December 2013 was $420,000, an increase from $400,000 the same month in 2012. From January through December 2013, the median home price increased 2 percent compared to prices in 2012. For 2013, the median price stood at $419,000 compared to $409,950 for a single-family home in 2012. 

The median price of a single-family home in New Hampshire increased nearly as much in 2013 as the median price increased in Massachusetts. 

Single-family home prices increased 9.1 percent in 2013 in New Hampshire, nearly as much as the 10.3 percent median price increase in Massachusetts. The New Hampshire real estate data was compiled by the New Hampshire Association of Realtors. 

In December 2013, the median price of a single-family home in South Boston, Massachusetts skyrocketed 83.7 percent compared to December 2012, but median prices were flat for the year, according to data compiled by the Greater Boston Association of Realtors. 

The median price for a single-family home in South Boston in December 2013 was $518,000, a significant increase from $282,000 the same month in 2012; however, from January through December 2013, the median price decreased compared to 2012. Throughout the year, the median price stood at $516,500, less than one percent decrease below the median price of $517,250 for single-family homes in 2012. 

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).

The median price of single-family homes in Arlington, Massachusetts steadily increased from 2009 through 2013, according to data compiled from MLS Property Information Network, Inc (MLSPIN).

In 2009, the median price of a single family home in Arlington, MA was $487,438. Over a five-year period, the price increased at an average of 3.6 percent per year. In 2013, the median price was $565,000, a cumulative 15.9 percent increase over the five years. Median prices for each year were as follows:

The number of single-family homes sold in Massachusetts slightly declined in December 2013, the second consecutive month home sales dropped, The Warren Group reported January 29, 2014. 

Single-family home sales in Massachusetts decreased in December to 3,712 from 3,725 in December 2012, a decline of less than 1 percent. December saw the fewest number of sales recorded in one month since April 2013.