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Danvers home, condo sales relatively flat in August

Posted by Ryan Mooney  September 26, 2012 10:00 AM

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Despite rising home and condo sales for the first eight months of the year, real estate transactions throughout Danvers remained relatively flat last month compared with August of last year, according to data released by the Warren Group.

Numbers from the Boston-based New England real estate tracker show that a total of 21 single-family homes were sold in Danvers last month, one more than in August of 2011, and the nine total condos sold in August is one less than the same time last year.

The slow month in Danvers doesn't accurately represent the trend the town has been showing to this point. Home and condo sales have both risen around 20 percent over the first eight months of the year as compared to January through August of last year, which is right in line with the rest of Essex County, according to the Warren Group.

Home-buyers have closed on 132 single-family properties in Danvers so far this year, as well as 43 condos.

One good sign for the town is the average price of a home, which eclipsed the state mark last month and sits well above the state average for the year. Last month, homes in Danvers sold for a median price of $339,900 - up from $329,950 in August of last year - compared to $310,000 statewide.

The average year-to-date price for a home in Danvers is $340,000, or $50,000 more than the state average.

Warren Group CEO Timothy M. Warren Jr. hopes that low prices around the Bay State can help aid the recovering market.

"In past housing market recoveries, we've seen sales volume increase before prices followed," Warren said in a statement released Tuesday. "Perhaps these low prices will lure even more buyers into the market and bring a sustained recovery."

The average condo price in Danvers in August dropped dramatically compared to last year, from $271,500 in August of 2011, to $125,000 last month.

For complete town-by-town data of single-family home sales click here; for condos click here. A county-by-county breakdown of data for home sales can be found here; condos here.

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

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