Inman News recently reported the top 10 metro areas where the median home prices had increased year over year, based on statistics from Zillow.  Notably, not only were none of the top 20 populated metro areas in the top 10 for appreciation, but neither were any metro areas from the Northeast in the top 10, save Pittsburgh (which tends to be considered more Mid-West).  Yet, we have reason to be positive, because as some areas recover, others will follow.

In Middlesex County, according to the Middlesex MLS, average prices in December for single family homes declined about 9% year over over.  However, there is a glimmer of light at the end of the tunnel, as average prices for condos and townhomes remained stable year over year (see below).  Barring some kind of significant economic event, we can be cautiously optimistic that in 2012, average home prices will level out.  Home sellers will still need to be competitive in price to successfully sell their homes, but this will hopefully point to an end in steep declines.