Melrose and Massachusetts as a whole saw a big year-over-year increase in home sales in November, which marked the largest year-over-year increase in 2012, according to the latest figures from The Warren Group.
In Melrose, 26 single-family homes were sold in 2012, a 30 percent increase over the 20 sold in November 2011.
Statewide home sales in November were up 38 percent in 2012 from a year ago and The Warren Group stated that it was the best November for sales since 2005.
Year-to-date, 213 single-family homes have sold in Melrose, a 5.33 percent decrease compared to the 225 sold during the same time period in 2011. Statewide sales are up 22 percent compared to 2011.
"We're winding down a pretty strong year of real estate in Massachusetts," The Warren Group CEO Timothy M. Warren Jr. said in a press statement. "It looks like sales will be the highest since 2006. We're also seeing median prices start to creep up, another positive sign of a healthy market recovery."
The median sale price of a single-family Melrose home increased slightly in November 2012 to $381,125, from $377,450 in November 2011, but the statewide median price rose almost 2 percent to $275,000 in November 2012, up from $270,000 a year earlier.
The year-to-date median sale price in Melrose is up slightly to $401,500 from $340,000 in 2011, while the statewide median price is $288,000, down just a bit from $394,000 in the prior year.
Meanwhile, The Warren Group said that both single-family homes and condominiums in the Bay State had the same median price in November 2012: $275,000.
"The popularity of condominiums as an alternative to apartment living has increased their pricing more than single-family homes," Warren said in the statement. "Last month we saw the unusual statistic that they have exactly the same median price."
Condo Sales Stagnant in November
Melrose condo sales were stagnant in November, with two sold in both 2012 and 2011. Statewide sales rose more dramatically, up 33 percent.
Year-to-date, Melrose condo sales are down nearly 6 percent, with 49 sold in 2012 compared to 52 sold in the same time period in 2011, while statewide condo sales are up 27 percent year-to-date.
Meanwhile, data for the November median sale price of a condo in Melrose for 2012 and 2011 was unavailable. Statewide median sale prices jumped more than 7 percent to $275,000, up from $255,950 a year earlier.
Through the first 11 months of 2012, the median sale price of a condominium has decreased in Melrose. In Melrose, it's $210,000 in 2012 compared to $237,700 in January through November of 2011. Across Massachusetts, the median price price is $276,000, up 2 percent from $270,000 a year ago.
[Editor's note: Information from a Warren Group press statement was used in this report.]