Belmont Sees 20 Percent Jump in Home Sales in 2012

Home sales have rebounded in Belmont with a month to go in 2012 as single-family houses sales have increased by 20 percent over the same 11 month period in 2011, according to statistics gathered by the Warren Group, the Boston-based real estate and banking information publishers for New England.

By the end of November, 177 single families were sold, 29 more than in 2011 when 148 were bought. 

While sales soared, median prices for single family homes stayed stable falling by a barely audiable one quarter of one percent from $692,500 in 2011 to $690,885 in November of this year.

Statewide, median price for homes sold January through November was $288,000, down 0.35 percent from $289,000 in the prior year.

Condominiums showed even better numbers as this catagory hit triple figures in November as 104 were sold compared to 75 at this time last year, up an impressive 38 percent.

And unlike single families, condo median prices rocketed up more than $100,000 over the previous year, $334,750 to $442,250, an increase of 39 percent.