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Beverly home sales spike in July

Posted by Ryan Mooney  August 30, 2012 07:49 AM

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The city of Beverly saw a spike in home sales last month as the Bay State experienced its best July since 2005 for home sales, according to data released by the Warren Group, a Boston-based real estate tracker.

A total of 4,979 single-family homes were sold across the state last month, marking a nearly 27 percent increase over July of 2011, the highest number since the 6,672 statewide in July 2005.

Just like the rest of Massachusetts, sales in Beverly jumped from the same period last year. The 34 houses sold last month marked nearly a 79 percent increase over July of last year, when 19 homes sold.

Beverly's year to date sales have remained better than last years as well. The city is now up to 158 sales, up from 129 in the same period in 2011, an increase of 22.48 percent.

"There are a lot of good signs pointing toward a real estate recovery," Cory S. Hopkins, editorial director of The Warren Group, said in a statement. "But we are comparing sales to a very depressed market last summer, so it's important to step back and realign expectations."

A good sign for the city is that while the median price for a single family home in Massachusetts remained about flat in July - at $318,000, a less than 1 percent increase over last year - the median price of a house in Beverly last month was $362,500, up from $305,000 in July 2011.

Sales have increased in Essex County, with a total of 534 homes sold last month. The median price of a home dropped slightly from last year in the first six months of 2012, but still remains higher than the state average of $287,000 at $310,000.

Click here for complete town-by-town home sale data. For county-by-county statistics click here.

Ryan Mooney can be reached at globe.mooney@yahoo.com. Follow him on Twitter @mooney_ryan.

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