Melrose 2011 Home Sales Defy State Trend, Up 9 Percent

While Massachusetts saw its lowest number of single-family homes sold since 1990 this past year, Melrose saw an increase in sales during 2011 compared to the previous year, according to the latest figures from The Warren Group.

Condominium sales in Melrose, meanwhile, were stagnant this past year compared to 2010, while the state saw the fewest number of condo sales since 1995.

In 2011, 237 single-family homes were sold in Melrose, a more than 9 percent increase over the 217 that were sold in 2010. Statewide, sales dropped almost 6 percent to 38,994, down from 41,389.

Melrose and Massachusetts saw a dip in home sales in December, reversing a five-month trend of year-over-year sales gains, according to The Warren Group. Melrose saw 12 single-family homes sold last month, a 25 percent drop from the 16 sold in December 2010, and Massachusetts sales dropped 5 percent to 3,380, down from 3,558 in December 2010.

(See the photo gallery for Melrose homes that sold in December, taken from our , which runs every Thursday at noon.)

In a press release, The Warren Group CEO Timothy M. Warren Jr. called the December drop "disheartening" after the five-month trend of year-over-year sales gains.

"Granted, we are comparing sales to a strong December in 2010, as it was the best December since 2006," Warren said in the release.

Melrose's Median Sale Price Down Slightly

The media sale price for a single-family home in Melrose fell almost 12 percent and dropped more than 3 percent for the year, mirroring dropping sale prices statewide that Warren said—noting December's decline was the tenth drop in 2011—reflect a slow market.

The median sale price for a single-family home in Melrose during 2011 was $392,000, down from $405,000 a year earlier. The statewide median price dropped more than 3 percent to $286,000 in 2011, down from $295,000 in 2010.

In December, the median sale price in Melrose was $357,500, down from $404,750 in December 2001, while the statewide median price dropped 4.2 percent  to $267,250, down from $279,000 in December 2010.

Median home prices have remained below $300,000 since August, The Warren Group said in its release, with December's price the lowest median sales price recorded since February's $252,250 price mark.

Melrose Condo Sales Relatively Unchanged in 2011

Melrose condominium sales didn't change much in 2011 compared to 2010, with 54 sold last year compared to 55 the year before.

Statewide condominium sales dropped 16.2 percent to 15,122 from 18,048 in all of 2010, according to The Warren Group.

In December, two condos sold in Melrose, compared to six sold in December 2010, and statewide sales fell 15.75 percent to 1,327 from 1,575 in December 2010.

The median sale price of a condo in Melrose, like the number of sales, remain relatively unchanged in 2011 compared to 2010. This past year, the median sale price was $239,950, a 1.24 percent increase from $237,000 the previous year.

The statewide median condo price rose almost 2 percent to $270,000 from $265,000 in 2010, according to The Warren Group.