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Medford, Mohegan Sun Come to Terms

Medford Home Sales Skyrocket, Outpace State Averages

Twice as many properties were sold in June 2012 compared to June 2011.

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."

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