Despite Rising Home Prices Statewide, Walpole, MA Sees 20.4% Decline in Home Prices in April 2013

While the median price of a single-family home increased 10.5 percent in the Bay State in April 2013 Walpole, Massachusetts saw its median price for a single-family home decline 20.4 percent, according to data from the Massachusetts Association of Realtors (MAR).

The median price of a single-family home in Walpole, MA was $515,000 in April 2012, but declined to $410,000 in April 2013. From January through April 2013, the median price of a single-family home declined 14.4 percent, from $450,000 during the first four months of 2012 to $385,000 during the same period in 2013. 

Home sales did increased in Walpole, also bucking the statewide trend. Home sales statewide declined 1.2 percent in April; however, Walpole single-family home sales jumped 76.9 percent. There were 13 home sales in April 2012 and 23 home sales in April 2013. Through the first four months of 2013, Walpole home sales increased 8.2 percent, from 49 in 2012 to 53.

Walpole, MA condominium prices also declined. The median price of a condo in April plunged 42.2 percent from $328,500 to $190,000; however, the median prices were based on only three condos sold in April 2013 and just two condo sales in Apirl 2012.  

The average number of days on the market for single-famly homes declined 11.9 percent and real estate inventory (all properties) declined 32.9 percent, according to MAR data.