Melrose home, condo markets fail to spring forward

By Matt Byrne, Town Correspondent

While the Massachusetts housing market soared in the first quarter of 2012, the sale of Melrose homes and condominiums has slowed precipitously when compared to this time last year, new housing data shows.

Home sales in March slid from 16 in 2011 to 12 last month; condominium sales also dropped for the month from four to three, according to the Warren Group, which tracks housing data throughout Massachusetts.

The Melrose first-quarter numbers followed the same lines: home sales fell in the first three months of the year from 40 properties under agreement in 2011, to 31 this year in the same period. Condo sales were flat, at 11 units sold in the first quarters of both 2011 and 2012.

Median home prices have remained relatively flat so far, dropping from $387,750 to $380,000, but the going rate for condominiums fell $41,400 in the three-month span, to $164,500.

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.