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Malden home sales on the rise

Posted by Jarret Bencks  November 27, 2012 11:00 AM

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Malden home sales rose 50 percent from October 2011 to October 2012 and are up nearly 20 percent on the year, according to recently released real estate data.

A total of 18 Malden homes sold last month compared to 12 in October 2011, according to data from real estate publisher The Warren Group. Year-to-date, 172 homes have sold in Malden, up from 144 through October of last year, according to the data. Condo sales are also on the rise, up from 144 through October 2011 to 172 so far this year.

The median sale price for a home this year in Malden is $278,000, up from $260,000 through October 2011.

Statewide, Massachusetts saw a 21 percent rise in home sales from October 2011 compared to last month. A total of 4,044 homes sold in the state last month, compared to 3,340 in October 2011, according to the data. Year-to-date homesales have also risen more than 20 percent, from 32,428 to 39,491.

"Home sales for the first 10 months of the year have already surpassed sales in all of 2011," said The Warren Group CEO Timothy M. Warren Jr in a statement. "Record low mortgage rates, an improved economy and growing consumer confidence are boosting the housing market in Massachusetts and around the country."

Jarret Bencks can be reached at bencks.globe@gmail.com. Follow him on twitter @JarretBencks.

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