Melrose November Home Sales Continue Uptick

Melrose's year-over-year single-family home sales rose again in November as they did statewide, the fifth straight month of year-over-year sales increases, according to the latest figures from The Warren Group.

Meanwhile, year-over-year condominium sales were down in Melrose again in November, but still up in 2011 compared to 2010. (Click through the attached photos to see some of the homes that sold in Melrose in November from our , which runs every Thursday at noon.)

In November, 20 single-family homes sold in Melrose, an almost 54 percent increase over the 13 sold in November 2010.

Statewide single-family home sales rose 13 percent in November, to 3,253 from 2,875 during the same month last year.

In a press release, The Warren Group said that home sales have historically low levels in recent months. For example, the past two Octobers have been the worst on record since October 1990. November fared a bit better, beating 3,211 and 2,611 sales in 2007 and 2008, respectively.

Year-to-date home sales across Massachusetts are down 6.7 percent, dropping to 35,168 compared to 37,698 in November 2010.

"I'm hopeful that winding down the year on a positive note will stimulate the market in 2012," said The Warren Group CEO Timothy M. Warren Jr. in the press release "But, a reality check of the numbers shows we may see a record low number of home sales in all of 2011, somewhere near the level in the 1990s."

However, Melrose bucks that statewide trend. Through November 2011, 225 single-family homes sold in Melrose, compared to 201 sold in the same time period in 2010, an almost 12 percent increase.

Melrose Median Sale Price Jumps in November

The median sale price of a single-family home in Melrose jumped 16.5 percent in November to $377,450, compared to $324,000 in November 2010.

Statewide prices went the other way. The median price of single-family homes in Massachusetts declined 8 percent to $271,000 in November, according to The Warren Group, down from $295,000 a year earlier.

However, Melrose's median single-family home price throughout 2011 mirrors the statewide trend. The January-November price of $394,000 in 2011 is down 2.7 percent from the $405,000 median sale price for Melrose during the same time period in 2010

Similarly, the median price for Massachusettshomes sold January through November was $290,000, down 2.5 percent from $297,500 in the prior year.

Melrose Condo Sales Lag Behind State in November

While year-over-year condo sales were up statewide in November, Melrose saw its .

In November, two Melrose condos sold, compared to five in November 2010. Meanwhile, condominium sales in Massachusetts increased in November to 1,245, rising 7.6 percent from a year earlier, when 1,157 were sold.

Year-to-date Melrose condo sales are still up, however, with 52 sold from January through November in 2011, compared to 49 sold the year before. Statewide year-to-date condo sales are down, dropping 16.4 percent to 13,790 from 16,497 a year earlier.

The year-to-date median sale price of Melrose condos slipped to $237,700, an 8.6 decrease from 2010's median sale price of $260,000, while the year-to-date median price of condos in the Bay State is $272,000, up almost 3 percent from $265,000 a year ago, according to The Warren Group.