EagleTribune.com, North Andover, MA


February 10, 2013

Real Estate Briefs

MERRIMACK & NASHOBA VALLEYS — The Northeast Association of REALTORS (NEAR) reports that the number of single family homes sold during December in the 15 cities and towns from Boxford to Littleton was up by 11.6 percent compared with December of 2011. During all of 2012, a total of 3,207 single family home sales were sold in the area, a 23.3 percent increase over the previous year and the highest annual sales total since 2005. Condominium sales also rose sharply in December, climbing by 32.9 percent versus December of the previous year, and for the entire year, condo sales were up by 21.6 percent to a total of 1,172, the highest annual condo sales volume locally since 2007. The report is based on data from MLS Property Information Network in Shrewsbury.

The report also showed that the median sales price for single family homes sold locally in December was $307,700, a 14 percent increase over the median of $270,000 recorded in December of 2011. For 2012 as a whole versus 2011, the median sales price for single family homes rose by 3.3 percent to $309,900. Meanwhile, condominiums sold locally during December had a median sales price of $177,500, an increase of 7.6 percent compared with the median of $165,000 set in December of 2011. For all of 2012, the median price of condos sold locally was $170,000, a drop of 2.9 percent versus the $175,000 median price of condos sold in the area during 2011.

The report also provided inventory levels of area homes for sale as of Jan. 15. The 904 available single family homes represent the lowest inventory level in more than 10 years. Meanwhile, the 370 condominiums available for sale as of Jan. 15, is the lowest inventory level for condos since 2004. The height of inventory for both property types were set in 2006 and 2007 at 2,242 available single family homes and 1,251 condos.

The report also showed that the average length of time it took for a single family home sold in December to go from listing to a closed transaction was 123 days, unchanged from December of 2011. For condominiums, the average days on market in December was 90 days, a drop of 39.6 percent over the 149-day pace to sell that was set for condos in December of 2011.

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