Stoneham, Statewide Home Sales Rise

Sales of single-family homes in Stoneham and statewide increased this August compared to August 2011, according to the latest report by The Warren Group.

Sales of single-family homes in Stoneham and statewide increased this August compared to August 2011, according to the latest figures in The Warren Group's press statement.

In August, 24 single-family homes sold in Stoneham compared to 10 in the same month last year, a 140 percent increase.

Meanwhile, statewide sales rose almost 26 percent in June, with 5,118 single-family homes sold, up from 4,262 a year earlier. According to The Warren Group, it's the second month this year to have more than 5,000 homes sold and seventh consecutive month of increased home sales.

"One more month of strong home sales confirm speculation that the housing market recovery is underway," said The Warren Group CEO Timothy M. Warren Jr. in a press statement. "Even though we are comparing to a slow August last year, the consistent sales volume of 4,000 to 5,000 in the past few months is a promising indicator."

Year-to-date single-family home sales in Stoneham are up about 33.33 percent, with 120 sold this year compared to 90 last year.

Year-to-date statewide sales are up 24 percent at 31,733, compared to 25,581 during the same period a year ago, according to the statement.

Median Prices Increase in Stoneham and Statewide

Both Stoneham and Massachusetts as a whole saw the median sale price for a single-family home increase last month.

In Stoneham, the median sale price of a single-family home was $422,500, about a 41.5 percent increase from the $298,497 price in August 2011.

Statewide, the median sale price increased 1.6 percent to $310,000 in August, up from $305,000 in August 2011.

Year-to-date, the median sale price for a single-family home in Stoneham is $375,500, about an 8.8 percent increase from the $345,000 price in the first half of last year.

Statewide the year-to-date median sale price is $290,000, down 1.7 percent from $295,000 during the same period last year. 

"In past housing market recoveries, we've seen sales volume increase before prices followed," Warren said in the statement. "Perhaps these low prices will lure even more buyers into the market and bring a sustained recovery."

Condo Sales Also Increase In Stoneham, Rise Statewide

As with single-family homes, Stoneham saw an increase in condominium sales last month while the Bay State saw an increase.

Eight condos sold in Stoneham last month, compared to one sold in August of last year, a 700 percent increase.

Statewide condo sales increased almost 40 percent from a year earlier, with 2,432 sold in August up from 1,736 a year earlier.

So far this year, 60 condos have sold in Stoneham compared to 39 in the first half of last year, about 59 percent increase, while statewide condo sales are up 28 percent to 13,040 from 10,173 a year earlier.

The median price in Stoneham last month was $211,000. Data for 2011 was not published in the statement.

Statewide, the median selling price was $313,001, up 6.3 percent from $294,500 a year earlier.

Year-to-date median sale price for Stoneham condos is $204,500, a 2.76 percent increase from the $199,000 price from January through June last year.

Statewide, the year-to-date median price of condos is $279,900, up nearly 2 percent from $275,000 last year.


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