November Home Sales Increase in 2011

Trade groups report real estate growth.

According to The Warren Group's latest findings, single-family home sales increased 13 percent in Massachusetts when comparing November 2011 with November 2010.

Sales increased year over year from 2,875 to 3,253. The November 2011 numbers are also reportedly better than those in 2007 and 2008, the group wrote.

Warren Group CEO Timothy M. Warren Jr. said in a statement that the November numbers are a positive sign for the new year, but says he also worries that the overall 2011 number might approach record low numbers, “somewhere near the level in the 1990s,” he said.

Other Warren numbers show the median price of single-family homes dropped from $295,000 in November 2010 to $271,000 in November 2011. The median price from January through November 2011 was $290,000, down 2.5 percent from the previous year.

Both the Warren Group and the Massachusetts Association of Realtors reported a jump in condominium sales from 2010 to 2011, according to Business Week. The Warren Group specifically reported that condo sales in the state increased from 1,157 to 1,245 year to year.

In Arlington, Realtor Steve McKenna of said 2011 was strong and he remains positive for 2012.

"With all things considered, it was an incredibly stable, solid year for Arlington." said McKenna, who has worked in the Arlington real estate market for 25 years.

According to multiple listing service real estate data:

  • Single-family home sales were down from 277 in 2010 to 263 in 2011. The average single-family home price went up from $537,511 to $545,917.
  • Condominium sales were up from 201 in 2010 to 211 in 2011. The average price went down from $396,242 to $361,121.
  • Multi-family home sales were slightly down from 36 in 2010 to 34 in 2011. The average sale price stayed constant, from $567,338 to $567,253.

"Last year, as far as Arlington goes, things held pretty strong, compared at least to some surrounding towns," said Bill Copithorne, broker-owner of Sweeney & O’Connell Real Estate, who has worked in the Arlington real estate market for 30 years.

Added Copithorne, "I think the local market is well poised for a good year."

Overall, McKenna added, the market remains solid.

"I think 2012 it going to be a very promising year for Arlington," McKenna said.

— Arlington Patch editor . contributed to this report.


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