Posted on January 30, 2013
WESTFORD — Single-family home sales in the Merrimack Valley last year reached their highest total since 2005, according to the Northeast Association of Realtors.
Single-family home sales totaled 3,207 last year in a 15-community region along I-495 from Bradford to Littleton, according to the Realtors group. That’s 23.3 percent higher than the 2,600 sold in 2011, and the most since 3,771 were sold in 2005.
The median price for a single-family home sold in the region last year was $309,900, up 3.3 percent from the 2011 median of $299,900. The 2011 figure is the only time since 2001 that the median home-sale price sank below $300,000.
Realtors say a key issue today is lack of inventory — only 904 single-family homes were available for sale in the region as of Jan. 15, according to NEAR.
“We are hearing that many sellers are waiting for the spring market to offer their properties for sale, but the buyers are out there looking now,” NEAR President Christopher Doherty said in a statement. “Our 1,200-plus Realtor members are very busy right now.”
Condominium sales totaled 1,172 in 2012, up 21.6 percent from the 964 sold in 2011 and the most in any year since 2007. Last year’s median condo price was $170,000, down 2.9 percent from the 2011 median of $175,000.
There were 490 multifamily homes sold last year, up from 486 in 2001. The median price for a multifamily home sold last year was $217,750, up 18.3 percent from the 2011 median of $184,000.