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Home sales in Salem increase 20 percent in October, condo sales nearly double

Posted by Ryan Mooney  November 27, 2012 09:45 AM

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October condo sales in Salem nearly doubled over the same month last year, and the 20 percent increase in single-family home sales is right in line with the statewide increase, according to data released on Tuesday by the Warren Group, a New England real estate tracker.

A total of 18 homes were sold in Salem last month, three more than in October 2011, bringing the total to 151 so far this year, a 51 percent increase from the 100 sold during the first 10 months of last year.

Year-to-date sales across the Bay State are up nearly 22 percent. According to the Warren Group, the 4,044 single-family homes sold statewide through October surpasses the number of homes sold in Massachusetts all of last year.

"Record low mortgage rates, an improved economy and growing consumer confidence are boosting the housing market in Massachusetts and around the country," Timothy Warren Jr., CEO of the Warren Group, said in a statement.

Homes also sold for more this past October in Salem than in October of 2011. The median sale price for a single-family dwelling in Salem last month was $237,750, nearly $3,000 more than last October.

The year-to-date average sale price in Salem falls nearly 10 percent lower than the average sale price for last year at $239,000.

Condo sales in Salem spiked more than 94 percent year-over-year, with 17 condos sold in October of 2011 rising to 33 last month, and the median sale price nearly matches what one would have paid for the average single-family at $235,000.

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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