Burlington Home Sales Down in March

Burlington’s single-family homes took a tumble in March, which The Warren Group blamed on “shrinking inventory," which is “depressing sales volume."

Mirroring a similar trend for the commonwealth but not Middlesex County, single-family home sales in Burlington dropped from 17 in March 2012 to 19 in March 2013. So far this year, Burlington has seen 30 homes sold – compared to 31 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."

Following the trend in the commonwealth and Middlesex County, Burlington’s single-family home median sale price increased in March. While Massachusetts saw an 8 percent increase from March 2012, the median price of Burlington’s 30 homes sold in March 2013 was a 5.26 percent increase from March 2012, according to The Warren Group.

"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."

Source: The Warren Group