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Malden home sales steady while prices fall

Posted by Matt Byrne  September 27, 2011 10:04 AM

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Home sales in Malden in August held steady from the same period a year before, new housing data shows.

One more home was sold this year, for a total of 16, than was last year, according to figures released by the Warren Group, which tracks the sales throughout the state.

Median price for a single-family home in the city slid more than 8.5 percent, or $23,500, to $251,500.

Last August throughout the state, sales slumped to their lowest in two decades after a popular first-time homebuyer tax credit expired. That month was the first time since data was first collected on the sales in 1987 that closings fell below 4,000 statewide.

"On the surface, the August numbers appear to be very strong," said Cory S. Hopkins, managing editor of Banker & Tradesman, in a statement. "But we're comparing sales volume to a month last year when buyers were retreating after the tax credits expired."

The Malden figures buck a statewide trend of increased home sales in the month, according to the Warren Group. This August, 4,203 homes were sold in the state, up 15 percent from the same period in 2010.

Condominim sales is the city increased from nine last August to 11 this year. But the most significant change was the increase in median price, which jumped nearly 10 percent -- or $18,500 -- to $215,000, according to the figures.


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