Home Sales Remain Behind, But Median Sale Price Jumps in June

Home sales in Wayland for 2013 continue to lag well behind the 2012 numbers, but June proved a positive month in terms of median sale price for those homes that were purchased.

Eighteen homes sold in Wayland in June, that's down from 25 in June 2012, a reduction of 28 percent, according to figures released by the Warren Group, publishers of Banker & Tradesman.

The good news: The median sale prices for both June and year-to-date are well above the 2012 numbers.

Among the 18 homes snatched up in June, the median sales price came in at $702,000, that's nearly 44 percent higher than the June 2012 median sale price.

Furthermore, Wayland's year-to-date median sales price is at $575,500 through the first six months of the year, up 10.6 percent from the median sales price through June 2012.

Though Wayland home sales were low last month, June marked the second straight month of increases for Massachusetts as a whole, as single-family home sales climbed “to the highest level for any month in three years,” according to the Warren Group report.

Middlesex County also saw an increase in home sales in June, with 1,412 single-families selling last month compared to 1,381 in 2012.

"The housing market continues to boom locally, and nationally," said Timothy M. Warren Jr, the Warren Group’s CEO. "As long as mortgage rates and home prices don't spike too high, we'll see a very strong recovery year for the market in 2013."

Like in Wayland, prices are on the rise across the county and state. In fact, the statewide median sale of $350,000 for single-family homes sold in June was the highest in years.

“No monthly median price had been this high for any month since August 2007. Buyers have come out to the market in droves and aggressive bidding is driving up prices,” Warren said in the report. “While not a problem at this juncture, I hope for more modest increases in the future. We don't want to see prices rise to the point where homeownership becomes unaffordable."