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Marblehead home sales up, prices down

Posted by Matt Byrne  May 23, 2012 10:35 AM

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More than double the number of homes were sold in April in Marblehead than in the same month last year, but median prices for those properties dipped significantly, recent housing data shows.

In all, 20 homes went under agreement in the North Shore community in April, up from eight in April 2011, according to the Warren Group, which tracks housing data throughout the state.

The strong sales figures were accompanied by median prices that fell $43,750, to $411,500.

Condominium sales were scant, at three units under agreement in the month, up from one recorded last April. The median price for the condominiums was $173,800, but because so few units sold in the same period last month no comparable statistics were available for the change in price.

Statewide, April was the strongest month for home prices since October 2011, a sign of a rebounding market, Timothy M. Warren, CEO of the Warren Group, said in a statement.

"Low mortgage rates and an improving job market in the Bay State are encouraging buyers to enter the market," Warren said. "It looks like the months ahead will continue to be positive as the strong spring and summer market heats up. Typically, June is the biggest month of the year for real estate closings."

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