Real Estate

Woburn Home Sales Down in March

Low inventory continues to hamper home sales.

Woburn’s single-family homes took a tumble in March, which The Warren Group blamed on “shrinking inventory," which is “depressing sales volume."

Mirroring a similar trend for the commonwealth but not Middlesex County, single-family home sales in Woburn dropped from 23 in March 2012 to 14 in March 2013. So far this year, Woburn has seen 40 homes sold – compared to 58 in 2012, according to The Warren Group, which publishes Banker & Tradesman.

"Low inventory is plaguing housing markets all over the country, and Massachusetts is no exception," said David Harris, editorial director at The Warren Group. "With mortgage rates low and prices competitive, we're hopeful more sellers will emerge and the trend in dropping home sales will reverse."

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Unlike the commonwealth and Middlesex County, Woburn’s single-family home median sale price decreased in March. While Massachusetts saw an 8 percent increase from March 2012, the median price of Woburn’s 40 homes sold in March 2013 was a 2.9 percent decrease from March 2012, according to The Warren Group.

Woburn March 2012 March 2013 Percent Change March Sales 23 14 -39.13% YTD sales 58 40 -31.03% March median sale price $310,000 $301,000 -2.9% YTD median sale price $311,450 $304,000 -2.39% Middlesex County March Sales 643 646 0.47% YTD sales 1614 1651 2.29% March median sale price $348,800 $367,051 5.23% YTD median sale price $349,500 $372,000 6.44% Massachusetts March Sales 3,215 3,100 -3.58% YTD sales 8,017 7,849 -2.1% March median sale price $263,000 $285,000 8.37% YTD median sale price $255,500 $282,500 $282,500

Source: The Warren Group

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