Home Prices Increased for Many Towns in Massachusetts and New Hampshire in January
Over 100 towns and cities in Massachusetts saw an increase in home selling prices last month compared to January of last year. Increases in average home prices were also seen in both Cheshire and Hillsborough counties in New Hampshire.
Our January Housing Report shows average prices for single-family, condo, and multi-family homes sold in Central and Eastern Massachusetts and Southern New Hampshire for January of 2012 compared to January 2011. In many communities more homes sold and for higher prices than last year, indicating a slight improvement in the housing market for the region.
In Massachusetts, Worcester County did well overall, selling a total of 486 properties last month compared to 420 in January 2011, with a 6.9% increase in the average home selling price.
Gains in prices were seen in towns across the state. In Falmouth, the average selling price for a home was $366,865 compared to $339,738 last year. The average home price in Beverly sold for $333,597 compared to $286,890 in 2011.
Cambridge home sale prices increased 12.17%; Framingham prices increased 7.22%; and the average home in Medford sold for 5.58% more than last year. The total amount of homes sold last month in Eastern and Central Massachusetts increased 1.38%, and in Southern New Hampshire 17% more homes sold than last January.
Yesterday the National Association of Realtors reported that the January Pending Home Sales Index is the highest it’s been since April 2010.
Lawrence Yun, National Association of Realtors chief economist, said “job gains, high affordability and rising rents are hopefully pushing the market into what appears to be a sustained housing recovery.”