Medford housing market makes first-quarter strides

By Matt Byrne, Town Correspondent

Despite a meek March for Medford home and condominium sales, the city's housing market still made gains in the first three months of the year, new housing data shows.

Sales of single-family homes and condominiums slid 9 and 8 percent, respectively, in March. Two less homes, 20, were sold in the month compared to March 2011, while one less condo, 11, was put under agreement.

But taking into account the first three months of the year, home sales rose when compared to the same period last year, to 57, up from 42. Condos saw a boost, too, from 25 in first-quarter 2011, to 32 this year.

Median sale prices of single-families increased to $335,000 in the first three months of 2012 from $320,000 during the same period in 2011. Condo prices also rose, to $265,000 from $252,900.

For town-by-town single-family stats, click here;  for condos, click here.

Statewide, the first quarter was the best since 2007, the Warren Group's CEO said in a statement.

"Starting the year with a strong first quarter is a good indicator of things to come," said Timothy M. Warren Jr. "After such a depressed year of sales in 2011, we're likely to see more positive year-over-year comparisons in months to come. The market has a good head of steam built up right now."

Across Massachusetts, single-family home sales rose nearly 20 percent, to 3,205 units sold, Warren said, and are up nearly as much -- 17 percent, to 7,964 -- on the quarter.