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Melrose home sales up in October, still trail 2011's pace

Posted by Jarret Bencks  November 27, 2012 10:04 AM

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More homes sold in Melrose last month than in October 2011, but year-to-date totals still lag slightly behind last year's pace, according to recently released data.

A total of 23 homes sold in Melrose in October, up 21 percent from the 19 sold that month last year, according to real estate publisher The Warren Group. So far, 190 Melrose homes have sold in 2012 compared to 205 through October 2011, according to the data.

The average sale price was $381,000 last month compared to $430,000 in 2011, according to the data. But average sale prices are up year-to-date, from $395,000 through October 2011 to $405,000 this year.

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 homesales 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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