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Peabody sees big spike in home sales last month

Posted by Ryan Mooney  July 24, 2012 08:34 AM

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The number of single-family homes sold last month in Peabody more than doubled what was sold in June of 2011, according to data released by the Warren Group, a New England-based real estate tracker.

A total of 47 homes were sold in Peabody - up from 22 in June of last year - for a median price of $325,500. In the first six months of this year, single-family home sales in Peabody have increased by more than 73 percent, for a total of 161, over the same time last year.

Single-family home sales statewide rose nearly 26 percent last month, marking the fifth straight month of double-digit percentage increases, according to the Warren Group. The 5,498 homes sold last month was the highest total for a single month since June 2010, when there were 5,662 sales.

"It's common to see strong sales volume once the spring selling market begins, but these numbers nearly parallel sales from two years ago when a government tax credit was being given to buyers," Warren Group CEO Timothy M. Warren Jr. said in a statement. "The local consumer confidence combined with low mortgage rates are evidently helping the market a great deal."

While the year-over-year average price of single-family homes sold across the Bay State decreased slightly last month, Peabody homes were marginally more expensive, up 1.24 percent from $321,500 in June of 2011.

The year-to-date median price of homes sold in Peabody is $297,500 - more than $15,000 higher than the state average - up from $295,000 in the first six months of last year.

Click here for a complete list of town-by-town single-home sale data in Massachusetts. For county-by-county numbers, click here.

Ryan Mooney can be reached at globe.mooney@yahoo.com.

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