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Malden home sales increase, and prices go up

Posted by Jarret Bencks  July 26, 2013 10:08 AM

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Malden home sales jumped in June, but have remained about even this year compared to 2012.

A total of 33 single-family Malden homes were sold in June, up 43 percent from the 23 sold last June, according to real estate publisher The Warren Group. Year to date, home sales are down slightly this year, from 99 in the first half of 2012 to 96 this year.

The median sale price is up 13 percent, from $273,000 to $308,500.

Condo sales in Malden also saw an increase in June, and are up on the year. A total of 15 condos sold in the city last month, compared to nine in June 2012, and 68 have sold year to date, up from 55 in the first half of last year. The median sale price on condos is up from $185,000 to $190,000.

Town-by-town home sales data can be found here, and condo data here.

Statewide, Massachusetts saw a slight increase in home sales. A total of 5,591 single-family homes sold in June, up about 1 percent from 5,535 in June 2012. Year-to-date, home sales have been nearly the same. A total of 21,659 single-family homes sold through June this year, compared to 21,633 over the same period last year, according to The Warren Group.

Home sale prices rose in the state for the ninth straight month, and are up 12 percent year-to-date over last year, from $281,000 to $315,000.

If mortgage rates and home prices don't climb too high, the improvements in the real estate market will likely continue, Warren Group CEO Timothy M. Warren Jr. said in a statement. But the market could slow if prices rise too quickly, he said.

"While not a problem at this juncture, I hope for more modest increases in the future," Warren's statement said. "We don't want to see prices rise to the point where homeownership becomes unaffordable."

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

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