Dover Home Sale Prices Skyrocket Past $1 Million

“Shrinking inventory" is “depressing sales volume" across the commonwealth, but closer to home Dover saw a spike in home sales in March. Sherborn, on the other hand, saw a drop, mirroring the the state trend, according to The Warren Group, which publishes Banker & Tradesman.

Dover saw more than double the number of home sales in March 2013 compared to a year ago. So far, in 2013, Dover has seen 13 home sales. Sherborn, meanwhile, dropped from five single-family home sales in March 2012 to one this year. So far for 2013, Sherborn has seen only three home sales -- a drop from 13 last year.

"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."

Dover's median sale price eclipsed more than $1 million in the first quarter of this year. There were only three home sales in the first quarter of 2013 in Sherborn, but the median price was $740,000, a large increase over 2012.

Source: The Warren Group