Melrose Home Sales Down Slightly in 2012

While Melrose home sales in December 2012 were up over the same time period in 2011, total home sales were down slightly in 2012 compared to the previous year, according to data released by The Warren Group, publisher of Banker & Tradesman, which tracks real estate trends.

Condominium sales in Melrose saw a 3.7 percent increase in 2012 compared to 2011. However, the sale of single-family homes in Melrose decreased by 3.38 percent in 2012 compared to the previous year. 

As for December 2012, Melrose condo sales saw a spike of 250 percent compared to 2011. Melrose home sales also saw a 58.33 percent increase in December 2012 compared to the previous year.

According to the recent figures from The Warren Group, a combined 285 condos and single-family homes sold in Melrose in 2012, compared to 291 in 2011. The year finished strong for Melrose in 2012, with 19 homes sold in December compared to 12 in December 2011. Meanwhile, there were seven condos sold in Melrose in December 2012 compared to two during the same time period in the previous year.

Meanwhile, the median sale price of a single-family home in Melrose was up nearly 3 percent from $392,000 in 2011 to $402,000 in 2012. However, condo median sale prices were down nearly 13 percent from $239,950 in 2011 to $209,350 in 2012.

In Massachusetts, 2012 was "the best year on record since 2006" for single-family home sales, according to The Warren Group.