Good news for homeowners, especially those thinking about selling: Home prices across the country and here in the Bay State area rose more than expected in July, according to data released Tuesday from the S&P/Case-Shiller Housing Index.
In the Boston-metro area, the seasonally adjusted price index (which measures the average sale price for single-homes) for July this year was 153.38, up from 152.07 in July 2011 and down from 155.30 in July 2010.
The numbers are calculated based on the repeat sale of existing single-family homes, where the baseline of 100 is the average price as of January 2000. The bottoming out of the index in this area was in April 2009.
According to data from Trulia.com, Andover's median sales prices has gone up 6.4 percent, or $30,000, in September since last quarter.
Andover's median house sales price was $470,000 in June and is $500,000 in September. However, Andover's median sales price is actually down 4.7 percent, or $24,900, since August 2011.
Do you think housing prices in your neighborhood have stabilized or are heading up? Are you happy with the current value of your home? Comment below!