Spring Real Estate Market Was Strong In Lynnfield, Statewide

Home sales in Lynnfield posted a significant year-over-year gain in May, while median sale prices seem to be showing more mixed signals.

According to recent data from the Warren Group, there were 14 homes sold in Lynnfield in May, 2012, compared to 9 for that month last year. Year to date sales are also ahead of where they were at the end of May, 2011, with 41 sales in 2012 compared to 34 for that point in 2011.

The year to date median sale price remains well below where it stood at the end of May, 2011. Last year, that figure stood at $489,500, compared to $400,500. However, in May of 2012, the median sale price stood at $468,000 – marking a 0.65% year over year gain.

Statewide, May saw the highest number of single family home sales (4,510) in Massachusetts since June, 2010, when there were 5,662. For the entire year, 16,045 homes sold in Massachusetts as of the end of May, compared to 13,029 for that period last year.

"The spring market has been especially strong in Massachusetts," said Cory S. Hopkins, editorial director of The Warren Group. "We're expecting home sales to continue to soar this summer, thanks to low mortgage rates and affordable prices luring buyers into the market."