Home Sales, Prices Rise in Norfolk County

If you are selling your houses, there was good news in July as sales and the home sale prices both went up in Norfolk County.

Home sales in Norfolk County went up by 13.44-percent, going from 692 to 785, while year-to-date is up for 4.37-percent. The other good news is that July median price went up by 12.50-percent to an average of $423,000. Year-to-date it is up 9.72-percent.

The breakdown by town is:
Norfolk in July- -6.67 home sale from 2012 to 2103. 15 homes sold in 2012, 14 2013.
Norfolk year to date- 40.74-percent increase.
Norfolk July Median Sale Price in July: $124,000 to $100,000 -19.35-percent.
Norfolk Year to Date Median Sale Price- $401,250 t0 $439,200.
Plainville in July-25-percent increase, eight homes sold in 2012, 10 homes sold in 2013.
Plainville year to date-18.92-percent increase, 37 to 44.
Plainville Median Sale Price-$323,500 to $301,000, 20.9-percent increase.
Plainville Year to Date Sale Price-$275,000 to $280,000, 1.82-percent.
Wrentham in July-10 to 14 homes sold, 40-percent.
Wrentham year to date-62-64, 3.23-percent.
Wrentham July Median Sale Price-$322,500 to $502,500, 55.81-percent increase.
Wrentham Year to Date: $292,500 to $413,750, 41.45-percent.

"Many recent real estate reports have signaled a strong real estate recovery, and our numbers speak to that rebound," said David Harris, editorial director of The Warren Group, publisher of Banker & Tradesman. "While consumer confidence and strong employment numbers continue to bolster the market, there's concern that higher mortgage rates and increasing home prices could dampen the revitalized market."

“The combination of buyers wanting to close and move in before the start of the school year and their concern over increasing interest rates resulted in another positive month in July,” said 2013 Massachusetts Association of REALTORS President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree. “Hopefully the activity of the past few months will encourage homeowners who are thinking about selling to put their homes on the market. Buyer demand is there, but the shortage of inventory often prices buyers out of the market.”

Home sales are also on the rise statewide.

“A total of 5,941 single-family homes statewide sold in July, up from 5,014 during the same month last year. This is the best month for sales volume since June 2006, when there were 6,152 sales. It's also the best July since 2005 when 6,672 sales were recorded. So far this year, 27,600 homes have sold in Massachusetts, up 3.5 percent from 26,647 during the same period in 2012,” according to The Warren Group.