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Walpole, MA Home Sales Decline Nearly 46% in April 2014

Jun 20, 2014 8:30:00 AM

While the number of pending single-family home sales in April stayed steady at 31 from 2013 to 2014, the number of closed sales in Walpole, Massachusetts took a 45.8 percent dip. According to data compiled by the Massachusetts Association of Realtors, only 13 sales were closed in April 2014, compared to 24 in April 2013. 

colonial_house_braintree_real_estateThrough the first four months of 2014, there was a 7.5 increase in pending sales relative to that same period in 2013. Meanwhile, closed sales went down from 54 to 41, a 24.1 percent decrease. 

As sales fell, median home prices rose. The median price for a single-family property in April was $420,000, up from $412,500 in April of last year. Walpole, MA single-family home prices went up 13.5 percent during the first four months of the year compared to that same period in 2013. Through April 2014, the median price of a single-family property was $440,000. Through the first four months of 2013, the median price of a single-family home was $387,500. 

Real-estate inventory of single-family properties in April declined 6.3 percent from 2013 to 2014. There were 64 single-family homes on the market in April 2014 compared to 60 in April 2013. Months supply of inventory also decreased and was 11.1 percent lower in April than in April 2013. There was 2.8 months supply in April and 3.4 months supply in April 2013. The number of new listings in April increased 10.8 percent from 37 new single-family property listings in 2013 to 41 in 2014. Through the first four months of the year, there were 115 new listings, a 17.8 percent increase from 98 listings during the same period in 2013. 

The average number of days a single-family home remained on the market decreased by 11.1 percent, and homes sold for 95.9 percent of the original list price in April. Single-family properties sold for 96.7 percent of the original list price during the first four months of 2014. 

There were only three condominiums sold in Walpole in April 2014, the same number that was sold in April 2013; however, the median condo price increased drastically. The median price of a condo in April 2014 was $429,000, a 126.3 increase from $190,000 in April 2013. Through the first four months of the year, the median price of a condo was $380,750, a 90.4 increase from $200,000 during that same period in 2013. 

Pending condo sales in April also went up. They rose from three in 2013 to nine in 2014, marking an increase of 200 percent. Through April there were 12 condos sold, a 20 percent hike from the 10 that were sold during the first four months of 2013. Through the first four months of 2014, there were 115.4 percent more pending sales than from January to April 2013. There were 28 pending condo sales through April compared to 13 during the first four months of 2013. 

Condominium inventory in April declined 12.5 percent relative to April of last year. There were 16 condos on the market last April, and there were 14 in April 2014. Months supply of inventory in April also decreased, going down from 3.7 in April 2013 to 2.5 months of supply this past April, a 32.1 percent decrease. While inventory has declined, the number of new condo listings has gone up. There were 116.7 percent more new listings in April 2014 than in April of last year. In April 2013, there were six new listings, and in April, there were 13. Through April, there were 39 new listings, an 85.7 percent increase compared to that same period in 2013. 

Through the first four months of 2014, Walpole homes sold much quicker than the same period in 2013. The average number of days on the market for condos decreased 15.7 percent in April and 69.7 percent during the first four months of the year. The three condos sold in April 2014 sold for 99.1 percent of the original list price compared to last year, when the three condos sold in April sold for just 89.2 percent of the original list price. 

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

   

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