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Lexington Home Sales Rose 10 percent in 2012

The median sale price, meanwhile, rose 3.28 percent over 2011.

Lexington saw a 10.02 percent increase in single-family homes in 2012, according to statistics gathered by the Warren Group, the Boston-based real estate and banking publishers.

The year-end numbers indicate 450 single-family homes sold in 2012 in Lexington, compared to 409 sales in 2011, with the median sale price increasing as well.

December-specific numbers showed no year-over-year increase in home sales here in Lexington, with 35 single-family homes sold the last month in each year. The median home price, however, spiked 20.23 percent to $820,000 in 2012, up from $682,00 the previous year.

Lexington was not alone in its increased real estate activity. In fact, according to a Warren Group press release, 2012 Massachusetts home sales were the highest in six years, increasing 18 percent in 2012. In all of 2012, the total number of homes sold statewide were 46,887, an increase from 39,594 home sales in 2011.

"I would characterize 2012 as the year of robust recovery in the real estate market," Warren Group CEO Timothy M. Warren Jr. said in a press release. "It is clear we have turned the corner and are gaining ground rapidly. I contrast the 18 percent gain last year with the decline of 6 percent in 2011."

In Lexington, the median sale price increase from $701,000 in 2011 to $724,000 in 2012 represents a 3.28 percent increase.

The statewide median sale price was less than half of the median price here in Lexington, but the Warren Group numbers for homes sold in December show an impressive 12 percent increase to $300,000, up from $267,250 the previous year.

LEXINGTON 2012 HOME SALES BY-THE-NUMBERS

2011 2012 % Change December Home Sales  35 35 0 percent YTD Home Sales 409 450 10.02 percent December Median Sale Price $682,000 $820,000 20.23 percent YTD Median Sale Price $701,000 $724,000 3.28 percent

When it comes to condominiums sales, Lexington’s stats mirror some of the activity across the Commonwealth, but differ sharply in other areas.

According to the Warren Group, condominium sales rose more than 25 percent in 2011, with the 19,061 condos sold representing the highest number of sales statewide since 2008, when there were slightly more than 20,000 transactions. The median sales price also increased 2.6 percent to $277,000 from $270,000 in 2011.

Here in Lexington, there were 88 condos sold in 2012, up 15.70 percent from the 76 units sold in 2011. On the flip side, the median sale price of those units was $480,000, an 11.60 percent decrease from $543,000 in 2011.

Interested to see how Lexington compared to some area communities? Take a look at the reports for:

  • Concord
  • Newton
  • Bedford
Looking for more local Lexington news? Follow us on Facebook and Twitter or sign up for our email newsletters. And check back later this week for a review of foreclosures in Lexington in 2012.


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