Lynnfield Home Sales Were Down In Oct.

Lynnfield’s real estate market had a slow month of October compared to data from this time last year.

According to date from the Warren Group, there were six home sales in October in Lynnfield, compared to 12 in October, 2010. At the end of October, there had been 90 home sales in Lynnfield, compared to 102 for the same point in 2010 – marking a decline of 11.76 percent.

October’s median sale price reportedly marked a significant year-over-year decline. Last October, the median sale price was $549,250 while that figure for 2011 was $416,450 – a drop of 24.18 percent.

Year to date, the town’s median sale price has been stronger. The Warren Group reported a year to date median sale price for Lynnfield of $466,750, down about 10 percent from the $520,000 year to date figure recorded at this time last year.

"Four months of increasing sales volume is a good sign for the real estate market and an indication of improving consumer confidence," said The Warren Group CEO Timothy M. Warren Jr. "However, there is no getting around the fact that the market is still slow and sales will be lower in 2011 than either of the previous years."