Local Real Estate Market Showing Gains Over 2011

Year to date home sales were up more than 10% as of the end of September, according to recent data from the Warren Group.

In its latest report, the Warren Group reported 95 home sales in Lynnfield as of the end of September, compared to 84 last year. This marks a 13.1% increase. As far as September itself goes, there was much less of a change – 10 sales were recorded for that month in 2012, compared to nine in 2011.

The median sales price for September, 2012 in Lynnfield was $532,500, up more than 25% from the $425,000 recorded last September. Year to date for 2012, the median sales price in town was $430,000, down almost 10% from 2011.

Statewide, the Warren Group reported 3,791 home sales in September, marking an 8 percent year over year increase. Year to date sales in Massachusetts through the end of September were also said to be up about 22% since that point in 2011.

"Home sales have reached the highest level in nine quarters, a strong sign that consumers have regained some confidence in the economy and are making home purchases with more enthusiasm," said The Warren Group CEO Timothy M. Warren Jr. "But, the end of the summer selling season and a slight increase in unemployment could mean sales will slow at the end of the year."