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Home sales in Peabody reflect statewide upswing, condo sales also rise

Posted by Ryan Mooney  November 27, 2012 09:51 AM

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Single-family home sales in Peabody last month eclipsed October of last year by more than 35 percent, besting the statewide mark of 21 percent, and nearly 100 more homes have been sold across the Tanner City so far this year than in the first 10 months of last year, according to numbers released by the Warren Group, a New England real estate tracker.

Another good sign for real estate in Peabody is the median sale price for a single-family dwelling in the city, which was at $330,000 last month, and currently sits at $300,000 for the year, nearly 5 percent higher than for the same time in 2011.

A total of 286 homes have been sold in Peabody this year to date, compared to 188 for the first 10 months of last year, and 23 of this year's purchases were closed in October.
The jump in home sales reflects a statewide trend in which sales for the month of October jumped from 3,340 last year, to 4,044 last month. Year-to-date sales across the Bay State are up nearly 22 percent, with 39,491 houses sold so far.

"Home sales for the first 10 months of the year have already surpassed sales in all of 2011," Timothy Warren Jr., CEO of the Warren Group, said 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."

Condo sales in Massachusetts have risen for the ninth straight month, according to the Warren Group, and are now up 29 percent for the year, from 12,559 for the same time last year, to 16,239 in 2012.

Similarly, Peabody saw a more than 36 percent increase in condo sales year-over-year last month, and sales are up more than 64 percent for the year across the city. A total of 102 condos have been sold in Peabody so far this year, 40 more than the same time last year, and 15 of those were sold last month, four more than in October of 2011.

The median sale price of a condo has also risen in Peabody, from $188,314 through 10 months last year, to $220,000 so far this year. For average condos in Peabody last month, buyers paid about $231,000.

For complete town-by-town data for single-family home sales, click here. Condo numbers can be found here.

County-by-county sales numbers for single-family homes can be found here, and condos here.

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

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