March Home Sales, Prices Up in Bedford

Bucking the trend for the Commonwealth but remaining more or less consistent with steady sales in Middlesex County, single-family home sales in Bedford increased from 9 in March 2012 to 11 in March 2013, a 22 percent rise. So far this year, Bedford has seen 20 homes sold – compared to 17 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."

With that being said, like the commonwealth and Middlesex County, Bedford’s single-family home median sale price increased in March.

While Massachusetts saw an 8 percent increase from March 2012, the median price of Bedford's 11 homes sold in March 2013 was a 17.03 percent increase from March 2012, when 9 homes were sold, according to The Warren Group.

In fact, the median sale price for single-family homes in Bedford in March 2013 was $448,800, an increase of more than $64,000 from the $383,500 median sale price in March 2012. 

"It's clear that the low supply of homes for sale is continuing to pressure prices," Harris said. "And there is definitely concern that such steep price spikes will cause an affordability issue."

Bedford March 2012 March 2013 % change March sales 9 11 22.22% YTD sales 17 20 17.65% March median sale price $383,500 $448,800 17.03% YTD median sale price $435,000 $500,000 14.94% Middlesex County


March sales 643 646 0.47% YTD sales 1,614 1,651 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 media sale price $255,500 $282,500 10.57%

Source: The Warren Group