Home and condominium sales in Melrose edged up in August, but the increased sales weren't enough to put the city's real estate market above were it was at this time in 2011, when sales outpaced current rate.
A total of 31 homes sold in August, up from 28 in the same month in 2011, according to The Warren Group, which tracks real estate data statewide. Condominium sales, rare for the suburban community, also saw a small boost from four to six.
The price of a single-family home nudged skyward, too, up $13,000 so far this year, to a median of $405,000. Condos, on the other hand, continue to get cheaper. So far this year, median sale price hit $210,000, down $17,700 from this point last year.
In Massachusetts, August was a strong month, the seventh consecutive for sales growth this year. Overall sales reached 5,118 single-family homes, up 856 units, and 13,040 condominiums sold, up 2,867 units.
"In past housing market recoveries, we've seen sales volume increase before prices followed," said Timothy M. Warren Jr., CEO of the Warren Group, in a statement. "Perhaps these low prices will lure even more buyers into the market and bring a sustained recovery."
Matt Byrne can be reached at email@example.com.