July Home Sales Surge in Beverly, Prices Still Down This Year

This post was written by Les Masterson and Bobby Gates.

The Beverly real estate market was sizzling in July.

July saw more than a 50 percent increase in the number of home sales in Beverly compared to a year ago.

Home sales in Beverly jumped from 34 in July 2012 to 54 in July 2013. Year-to-date, Beverly has seen 198 home sales – compared to 158 a year ago, according to The Warren Group.

The median sale price is also on the rise. In July 2012, the median sale price in Beverly was $362,500. This year, it was $406,250. Year-to-date, the median sale price is down, though, at $356,250 from $359,950 a year ago.

"Many recent real estate reports have signaled a strong real estate recovery, and our numbers speak to that rebound," said David Harris, editorial director of The Warren Group, publisher of Banker & Tradesman. "While consumer confidence and strong employment numbers continue to bolster the market, there's concern that higher mortgage rates and increasing home prices could dampen the revitalized market."

Home sales are also on the rise statewide.

“A total of 5,941 single-family homes statewide sold in July, up from 5,014 during the same month last year. This is the best month for sales volume since June 2006, when there were 6,152 sales. It's also the best July since 2005 when 6,672 sales were recorded. So far this year, 27,600 homes have sold in Massachusetts, up 3.5 percent from 26,647 during the same period in 2012,” according to The Warren Group.