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Medford Home Sales, Foreclosures Down in February

Medford numbers reflect the state in both instances.

Figures released by the Warren Group indicate both home sales and foreclosures were down in Medford for February compared to the same month in 2012.

February 2013 saw 16 home sales in Medford, down over 27 percent from February 2012, when 22 homes were sold. Condo sales were actually up slightly, from nine in 2012 to 11 in that same month in 2013.

Foreclosure petitions, deeds and auctions were all down in Medford for February 2013 compared to a year ago, according to the Warren Group.

There were three foreclosure petitions in February with eight the previous February, no foreclosure auctions compared to three last year and one foreclosure deed with four a year ago.

Median home sale prices in February were up nearly five percent from a year ago, at $338,400 in 2013 and $322,500 in February 2012.

Home sales in Middlesex County were up slightly in February compared to the same month a year ago, although sales were down for the state as a whole.

"Two factors caused this modest drop in February: low inventory and a comparison with a strong previous year of sales," said Timothy M. Warren Jr., CEO of The Warren Group of the statewide figures. "Even so, I'm still hopeful for a strong spring market. As more sellers list their homes in the spring, activity will pick back up."

Statewide, foreclosure petitions were down over 38 percent from February 2012 this past February, continuing a trend.

"Seeing four consecutive months of petitions below 1,000 is a promising sign," said Warren said. "The improved jobs picture and lenders' willingness to do short sales and loan modifications are helping to fuel the decrease. Hopefully this continues and improves consumer confidence as well."

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