Home Prices Fell In Lynnfield Last Year

Earlier this week, the Warren Group released data showing that for 2011, Massachusetts home sales fell to their lowest level since 1990.

A further look at that data finds that the fourth quarter at least managed to post a year over year gain from that period in 2010, with 9,991 sales recorded in the final three months of 2011, compared to 9.461 for 2010. Statewide home sales were slowest in the first quarter of 2011 and the strongest sales month of the year was June.

The soft real estate market continued to be felt in Lynnfield as well for much of 2011.

According to the Warren Group data, six homes were sold in December, 2011, compared to eight for that month in 2010. For all of 2011, 112 homes were sold in Lynnfield, a modest drop of about 5% from the 118 sales recorded in town in 2010.

Also, the December median sales price in 2010 for Lynnfield was $597,500. In December 2011, that figure was $345,500, down a whopping 42.18%, according to the data.

While the December year over year data reflected a considerable price drop, the overall data for the year was somewhat better. The 2010 median sales price in Lynnfield was $522,500, and in 2011, that figure fell by a relatively moderate 12.16% to $458,950.