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Home sales up in Medford, outpacing state

Posted by Jarret Bencks  November 27, 2012 10:47 AM

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Home sales in Medford continued to climb in October, outpacing state averages also on the rise, according to recently released data.

A total of 22 homes sold in Medford last month, up from 15 in October 2011, according to data from real estate publisher The Warren Group. Year-to-date home sales in Medford are up more than 25 percent, from 212 to 269, according to the data. Condo sales are up 30 percent year-to-date, from 126 to 164.

Sale prices on homes in Medford are also up slightly, from $340,000 through October 2011 to $352,000 this year, according to the data.

Statewide, Massachusetts saw a 21 percent rise in home sales from October 2011 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 home sales 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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