November Home Sales Up Significantly in Chelmsford

 

Chelmsford and Massachusetts as a whole saw a big monthly and year-over-year overall increase in home sales in November, which marked the largest year-over-year increase in 2012, according to the latest figures from The Warren Group.

In Chelmsford, 33 single-family homes were sold in November 2012, an 120 percent increase from November 2011. 

Statewide home sales in November were up 38 percent from a year ago and The Warren Group that it was the best November for sales since 2005.

Year-to-date, 293 single-family homes have sold in Chelmsford, a 22 percent increase over the 239 sold during the same time period in 2011. Statewide sales are also up 22 percent compared to 2011.

"We're winding down a pretty strong year of real estate in Massachusetts," The Warren Group CEO Timothy M. Warren Jr. said in a press release. "It looks like sales will be the highest since 2006. We're also seeing median prices start to creep up, another positive sign of a healthy market recovery."

The median sale price of a single-family Chelmsford home actually dropped slightly in November to $330,000 from $335,000 in November 2011, but the statewide median price rose almost 2 percent to $275,000 in November, up from $270,000 a year earlier.

The year-to-date median sale price in Chelmsford is up slightly to $314,900 from $312,000 in 2011, while the statewide median price is $288,000, down just a bit from $289,000 in the prior year.

Meanwhile, The Warren Group said that both single-family homes and condominiums in the Bay State had the same median price in November: $275,000.

"The popularity of condominiums as an alternative to apartment living has increased their pricing more than single-family homes," Warren said in the press release. "Last month we saw the unusual statistic that they have exactly the same median price."

Condo Sales Up in November

Chelmsford condo sales were up in November, too, with 12 sold compared to 7 sold in the same month a year ago. Statewide sales rose as well, up 33 percent.

Year-to-date, Chelmsford condo sales have dropped, with 98 sold in 2012 compared to 103 sold in the same time period in 2011, while statewide condo sales are up 27 percent year-to-date.

Meanwhile, the median sale price of a condo in Chelmsford rose year-over-year to $202,500 from November 2011's median sale price of $185,000. In contrast, the statewide median sale price jumped more than 7 percent to $275,000, up from $255,950 a year earlier.

Through the first 11 months of 2012, the median sale price of a condominium has stayed relatively the same in Chelmsford and statewide. In Chelmsford, it's $180,900 so far compared to $197,000 in January through November of 2011. Across Massachusetts, the median price price is $276,000, up 2 percent from $270,000 a year ago.

For more information on which homes sold each week, be sure to check out our real estate section.

Information from a Warren Group press release was used in this report.