Medford Home Sales Skyrocket, Outpace State Averages

Home sales in Medford last month were more than double the total from June 2011, according to recent housing data.

A total of 41 homes were sold in Medford in June, up from 20 in June 2011, according to data from real estate publisher The Warren Group. Year-to-date home sales in Medford totalled 153 through June, compared to 104 in the first six months of 2011, according to the data. The median home price stayed at $340,000 year-over-year in Medford, according to the data.

State-wide, home sales have seen a significant increase from last year, but not quite as pronounced as it is in Medford. Year-to-date home sales were up 24 percent in Massachusetts through June compared to last year. A total of 21,567 single-family homes sold in the first six months of 2012, compared to 17,397 during the same period last year, according to a Warren Group press release.

Some experts attribute the increase to a combination of low mortgage rates, consumer confidence, and the spring-time market.

"It's common to see strong sales volume once the spring selling market begins, but these numbers nearly parallel sales from two years ago when a government tax credit was being given to buyers," Warren Group CEO Timothy M. Warren Jr. said in a written statement. "The local consumer confidence combined with low mortgage rates are evidently helping the market a great deal."