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Peabody home sales down slightly in August

Posted by Ryan Mooney  September 26, 2012 09:05 AM

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The city of Peabody saw a slight dip in single-family home sales last month over the same time last year, despite a rise in real estate transactions across Bay State as a whole, according to data released by the Warren Group.

Last month marked the seventh straight month in which both home and condo sales posted an increase over the year before, according to the Warren Group - a New England real estate tracker based in Boston - with 5,118 homes sold statewide. It was also the second month this year that home sales have surpassed 5,000.

In Peabody, four less transactions were closed last month than in August of 2011 for a total of 26 home sales. But for the year, the city has enjoyed a spike in sales so far over 2011, from 152 in the first eight months of last year, to 222 over the same period this year, slightly more than a 46 percent increase.

Another good sign for the Peabody housing market is the average median price for homes in town. In August, it was $309,500 - a nearly 17 percent increase over August of 2011 - which is just about on par with the rest of the state at $310,000. The average median price of $300,000 for the first eight months of the year - up from $281,500 over the same period last year - is $10,000 higher than the state average.

Condominium transactions increased in Peabody, from five sales in August of 2011, to 13 last month, keeping with the year-to-date trend that has seen sales in the city rise more than 55 percent.

The median sale price for a condo last month was the same as the average for the first eight months of the year, $220,000. Condos statewide so far this year have sold for an average of $279,900, according to the Warren Group.

For complete town-by-town data of single-family home sales click here; for condos click here. A county-by-county breakdown of data for home sales can be found here; condos here.

Ryan Mooney can be reached at globe.mooney@yahoo.com. Follow him on Twitter @mooney_ryan.

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