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Home Sale Down, Prices Up in Wrentham

According to the Warren Group, home prices have gone up in Wrentham.

Wrentham saw a dip home sales in 2013, but Plainville and Norfolk are seeing slight increases.

According to a report filed by the Warren Group, Wrentham’s home sales dropped from nine in the month of April 2012 to six in 2013. There were also 29 homes sold by April in 2012 as apposed to 25 in 2013.

Wrentham is also seeing an increase in median home sale prices. The median price for home sales actually went up, both in month-to-month and 2012-2013.

At this point in 2012 had a median sale price of $270,000, while in 2013 it was $405,000.

Plainville actually saw an increase in home sales, from six to eight in April 2013 and 17 to 18 for year to date. The median price for Plainville houses also went up in 2013, from $239,500, despite in the increase in sales.

Norfolk is also seeing a slight increase in home sales. While the April 2012 and 2013 sales remained the same at six,  Norfolk has sold 26 houses in 2013 as apposed to 22 in 2012.

In the state, home sales are also down.

In April, there were 3,504 single-family home sales, down about 1 percent from 3,541 in April 2012. This marks the third consecutive month that sales volume decreased year-over-year. April sales volume reached the highest level so far this year; surpassing the 2,979 sales recorded in March. Year-to-date sales are also down 2.7 percent - a total of 11,244 homes have sold so far this year, down from 11,558 during the same period last year.

"There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume," said Timothy M. Warren Jr., CEO of The Warren Group. "Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence."

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