The median price for Massachusetts single-family homes sold in January rose 9.6 percent to $285,000 from $260,000 in January 2009, the second consecutive month that median prices for single-family homes increased by about 10 percent on a year-to-year comparison basis, the Warren Group, a Boston firm that tracks the local housing market and publishes Banker & Tradesman reported today.
On a volume basis, the number of Massachusetts single-family homes rose 11.8 percent to 2,153 from 1,926 in January 2009; that was the fourth consecutive month of double-digit percentage increases, said the Warren Group.
Despite these positive statistics, there are concerns. Most Franklin, MA area Realtors will tell you that recent buyer activity has been energized by the first time homebuyer tax credit and historically low mortgage rates. As lenders begin to rumor that mortgage rates are expected to rise this week and stay elevated coupled with the tax credit expiring at the end of April, the fear is that the buying activity may drop off. Homeowners have to some degree held back from putting their homes on the market due to beliefs that they will garner more money in the future. This notion may be true in 5-10 years but no data suggests that prices 
will rise substantially in the immediate future.
Massachusetts Association of Realtors president Kevin Sears explains it this way. "To get back to a more normal market we still need to see more homes for sale than we currently have. If not, prices will continue to go up to the point where it will impact sales and drive the market back down."
If you are thinking of selling and want to know what your home is worth, give me a call. I will provide you a market analysis report that gives you a likely selling price based on current comparable sales data. You may be pleasantly surprised with your home's value!
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