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June 9, 2013

Real Estate Briefs

MERRIMACK & NASHOBA VALLEYS — The Northeast Association of REALTORS (NEAR) reports that the combined sales of condominiums in the 15 cities and towns from Boxford to Littleton in April had a median sales price of $221,450, an increase of 41.1 percent compared with the median of $157,000 in April of 2012. The median sales price for single family homes sold during April was $335,000, a 15.6 percent increase over the median of $289,900 recorded in April of 2012.

The report also showed that the number of condominiums sold locally last month was up by 49 percent compared with April of 2012. The number of single family homes sold locally in April was down 5.6 percent. The report is based on data from MLS Property Information Network in Shrewsbury.

The report also provided inventory levels of the number of area homes for sale as of May 15. The 1,134 available single family homes represent the lowest inventory level for the month of April since 2004. The 484 condominiums available for sale as of May 15 is also the lowest inventory level since 2004. The height of inventory for both property types were set in 2006 at 2,135 available single family homes and 1,193 condos.

NEAR also reported on residential properties locally that became classified as pending in April. For single family homes, the volume of pending sales in April was 26.6 percent higher than in April 2012, with 442 pending sales in the region this April, compared with 349 last April. Meanwhile, there was an even bigger increase in pending sales of condos, with 55.1 percent more condos under agreement in April 2013 compared with April 2012. Pending sales figures are considered a good indicator of future sales activity.

Multi-Family properties showed gains, with 5.3 percent more sold in April 2013 compared with April 2012, and an 11.6 percent increase in prices.

The Northeast Association of REALTORS is one of 1,500 local chapters of the National Association of REALTORS. Officially, NEAR covers 15 cities and towns from Boxford to Littleton, though it has members from more than 50 cities and towns in the Merrimack and Nashoba valleys as well as southern New Hampshire.

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