I'm not sure where you read that, or what properties they were referring to. but the median price of single families, condos, and multi-families in Melrose actually declined from 2010 to 2011. But this year prices are up YTD.
Most of greater Boston is up, not just Melrose. Prices seem to have stabilized and we are having a busy spring, with multiple offers in many cases. Will that continue? If only I had a crystal ball...!