Median Sale Price In Lynnfield Was $495K In August

Real estate prices were down somewhat in Lynnfield on a year over year basis as of August.

New data from the Warren Group finds that in August, the median sale price in town was $495,000, compared to $520,000. This marked a decline of 4.81 percent. The year to date median sale price was $489,000 in August, down 6.41 percent compared to $522,500 for that period in 2010.

The number of homes sold in Lynnfield remained fairly constant from August to August, with 12 in 2011 and 11 in 2010. There were 75 home sales recorded year to date at the end of this August, compared to 78 for the same period last year.

The Warren Group noted that statewide, the number of single-family homes increased 15 percent to 4,203 in August. Last year also saw the weakest August for real estate sales in two decades.

"On the surface, the August numbers appear to be very strong. But we're comparing sales volume to a month last year when buyers were retreating after the tax credits expired," said Cory S. Hopkins, managing editor of Banker & Tradesman.