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Medford housing market surges in August

Posted by Matt Byrne  September 28, 2012 08:33 AM

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Medford showed strong home and condominium sales in August, mirroring a rising Massachusetts housing market that has showed continued signs of strength this year, housing data released this week showed.

Condominiums saw the biggest boost, at 29 units sold, 17 more than in August 2011. Two more homes sold in Medford last month than in August 2011, for a total of 34 homes, according to The Warren Group, which tracks real estate transactions throughout the state.

For the first eight months of the year, 226 homes sold in Medford, up from 159 during the same period in 2011. The median single-family home price was up $5,000 so far this year to $350,000, while condominiums are flat so far in 2012 at $280,000.

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

In Massachusetts, August was a strong month, the seventh consecutive for sales growth this year. Overall sales reached 5,118 single-family homes, up 856 units, and 13,040 condominiums sold, up 2,867 units.

"In past housing market recoveries, we've seen sales volume increase before prices followed," said Timothy M. Warren Jr., CEO of the Warren Group, in a statement. "Perhaps these low prices will lure even more buyers into the market and bring a sustained recovery."

Matt Byrne can be reached at mbyrne.globe@gmail.com.

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