May Homes Sales in Peabody Decrease 12 Percent From Last Year

The latest real estate numbers from the Warren Group indicate that both May home sales in Peabody and home sales overall are down. While the state is seeing higher home sales in May, they are going down in general.

In Peabody, home sales decreased 12.5 percent this May, with May of 2012 seeing 32 home sales and last month bringing in a total of 28.

Total home sales in Peabody so far this year have also decreased compared to the total home sales at this time last year, increasing to 106 home sales this year from 114 last year. 

May homes sales throughout the state were the highest they’ve been in May since 2006. There were 4,820 single-family homes sales this May in Massachusetts; almost 300 more than homes sales May of 2012, which was 4,540, according to an article in the Banker and Tradesman.

"Now that we're well into the prime spring selling season, activity is increasing for sales volume as expected," said Timothy M. Warren Jr., CEO of The Warren Group, according to the Banker and Tradesman. "We're expecting home sales to continue to rise on a year-over-year basis this summer.

However, year-to-date home sales in Massachusetts are down slightly compared to 2012, from 16,098 at this time last year down to16,068, the current year’s total home sales.

Warren also commented on the median sales prices this year.

“Median prices have increased by double-digit percentages for four straight months and show no signs of slowing."

The median sales price for a single-family home in May has also gone up since May of 2012; the median prices this past May was $324,500, which is a 12 percent increase from $290,000, the median sales price in May of last year.