Lynnfield, Mass. Home Sales Picked Up In April

Lynnfield real estate sales enjoyed a strong month of April, according to recent data from the Warren Group.

For April 2012, there were reportedly 14 home sales in Lynnfield, compared to just seven for that month last year. With considerable  help from that strong month of sales, the end of April saw 27 home sales year to date in Lynnfield, compared to 25 for the first four months of 2011 – an 8% increase.

While the home sales showed signs of picking up this spring, the home prices are not where they were last year.

The Warren Group data found that in April, the median sales price for a home was $397,750, which is about an 8% drop from the $432,000 reported in April, 2011.

The year to date median sales price is also down considerably from 2011, although  this statistic can be highly relative. For the first four months of 2011, the median sales price for a home in Lynnfield was $570,000. In 2012, that figure was $398,000, marking a decline of just over 30%.

Statewide in April, single-family home sales were up 22% on a year-over-year basis, while year to date sales were up 18%.

"Low mortgage rates and an improving job market in the Bay State are encouraging buyers to enter the market," said Timothy M. Warren Jr., CEO of The Warren Group. "It looks like the months ahead will continue to be positive as the strong spring and summer market heats up. Typically, June is the biggest month of the year for real estate closings."