Some Massachusetts towns buck trend; single-family home prices rise
The Boston Globe says that the general real estate slowdown is being felt worse in some places than in others. While sales volume is off everywhere, the median prices of single-family homes have increased in several Massachusetts cities and towns.
While the state’s overall real estate market is sluggish, several communities have seen higher home prices in the first half of 2008 than in 2007 (though 2008 prices are in many cases still under 2006 figures). Some of the biggest increases in Eastern Massachusetts belong to:
Median prices for single-family homes
TOWN - FIRST HALF OF 2006 - FIRST HALF OF 2007 - FIRST HALF OF 2008
Brookline $975,000 $965,000 $1,065,000
Canton $493,000 $410,000 $463,700
Carlisle $850,000 $755,000 $850,000
Hamilton $510,000 $413,000 $550,000
Jamaica Plain $559,000 $440,500 $494,000
Norfolk $460,000 $405,000 $475,000
Salisbury $353,000 $251,000 $305,000
Sherborn $851,500 $640,500 $857,750
Southborough $690,400 $436,800 $533,000
Wellesley $932,000 $966,250 $1,084,500
West Newbury $652,500 $465,000 $570,000
Winchester $778,500 $649,900 $757,500
Source: The Warren Group, by way of The Boston Globe