Bedford Home, Condo Sales Increase in December
Both the number of single family home sales and condo sales increased in Bedford in December, as well as throughout 2012, increased over 2011, according to a report by the Warren Group.
A new report from The Warren Group indicates that sales of single-family homes and condos in Bedford are trending in the same direction compared to the numbers from 2011.
According to the report, released Jan. 24, the number of single-family homes sold in Bedford in December 2012 increased from 6 to 15, while the median sales price decreased slightly by 0.7 percent over 2011 sales.
Single-family home sales in Bedford for 2012 rose a significant 25.6 percent, from 117 in 2011 to 147 in 2012.
When it comes to condos: Sales are up 66 percent from 2011 to 2012, and the median sale price so far this year rose 11.8 percent.
2012 saw the highest number of home sales in Massachusetts since 2006, with home sales across the commonwealth rising 18 percent over 2011. Statewide single-family home sales in December rose 8 percent over 2011.
This could indicate the beginning of a recovery for the real estate market, according to The Warren Group CEO Timothy M. Warren Jr.
"I would characterize 2012 as the year of robust recovery in the real estate market," said Warren in a press release. "It is clear we have turned the corner and are gaining ground rapidly. I contrast the 18 percent gain last year with the decline of 6 percent in 2011."
Meanwhile, the median price of a single-family sold in Massachusetts this December was $300,000, up from $267,250 during the same month last year, an increase of more than 12 percent.
Here’s a by-the-numbers look at Bedford Single-Family Home Sales in December 2012:
|December Sales||6||15||150 percent|
|Year to Date Sales||117||147||25.64|
|December Median Sale Price||476,818||473,500||-0.7|
|YTD Median Sale Price||505,000||510,000||0.99|
Condo sales in Massachusetts also increased in 2012, according to the Warren Group report, rising 25 percent over 2011. Rising from 15,191 in 2011 to 19,061 in 2012, statewide condo sales were the highest since 2008 when there were 20,109 transactions.
In Bedford, there was a 66 percent increase in condo sales, although that number is less dramatic considering the sample size: 5 condos sold in December 2012, up from 3 a year earlier.
Here’s a by-the-numbers look at Bedford Condo Sales in December 2012:
|Condo Sales||3||5||66.67 percent|
|November Median Sale Price||440,000||491,890||11.79|
|YTD Median Sale Price||491,750||485,000||-1.37|
Stay tuned to Bedford Patch later this week to find out how many foreclosure petions were filed in Bedford in 2012 compared to 2011.