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Melrose home, condo sales on the upswing

Posted by Jarret Bencks  July 26, 2013 09:16 AM

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Home sales and prices were up in June in Melrose, and are slightly up on the year, according to recently released real estate data.

Home sales in the city rose from 22 in June of 2012 to 33 for the month in 2013, and are at nearly the same pace halfway through this year as 2012, with 97 sold so far this year compared to 96 last year, according to real estate publisher The Warren Group.

The median sale price has increased from $383,000 to $405,000.

Condo sales rose from seven in June 2012 to nine last month. Year-to-date, condo sales are up from 27 to 32. The median sale price for condos has risen slightly, from $205,000 last year to $207,000 this year.

Town-by-town home sales data can be found here, and condo data here.

Statewide, Massachusetts saw a slight increase in home sales. A total of 5,591 single-family homes sold in June, up about 1 percent from 5,535 in June 2012. Year-to-date, home sales have been nearly the same. A total of 21,659 single-family homes sold through June this year, compared to 21,633 over the same period last year, according to The Warren Group.

Home sale prices rose in the state for the ninth straight month, and are up 12 percent year-to-date over last year, from $281,000 to $315,000.

If mortgage rates and home prices don't climb too high, the improvements in the real estate market will likely continue, Warren Group CEO Timothy M. Warren Jr. said in a statement. But the market could slow if prices rise too quickly, he said.

"While not a problem at this juncture, I hope for more modest increases in the future," Warren said. "We don't want to see prices rise to the point where homeownership becomes unaffordable."

Jarret Bencks can be reached at bencks.globe@gmail.com. Follow him on twitter @JarretBencks.

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