Dover-Sherborn Home Sales Mixed Bag During Biggest Month Since 2006

Massachusetts posted the best month for home sales since 2006 in July, according to new numbers from the Warren Group, and while Sherborn was part of that, Dover was not.

For Sherborn, in July of 2013, 8 homes in Needham changed hands--up from 6 this time last year. That makes a 33.3 percent increase since July of 2012. Overall for the year, Sherborn has sold a little over 2 percent fewer homes than it had by this time in 2012, also according to The Warren Group.

The average Sherborn home was selling for $631,000 last year, and is selling for almost 9 percent more this year: $687,500. Year-to-date medians are fairly comparable, $610,000 in last year, and $720,000 in 2013.

Dover, on the other hand, saw three fewer homes sold than last year. as the difference is four down from seven, this is about 42 percent. The prices are going up, however, as the median price for a house in 2012 was $685,000 and this year was $853,000--up 24 percent. Year-to-date medians were a bit closer, an 8 percent increase from $790,000 to $845,375

Condo sales in both towns were steady, in that neither town had a condo sale in in July of either last year or this year. 

“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.”

Norfolk County, which houses Dover, has seen an increase in home sales this year (3,462 compared to  3317 a year ago) and saw a better July this year compared to 2012 (785 this year compared to 692 last year).

The median sale prices for homes in Norfolk County in July were $423,000, up from $376,000 a year ago. So far this year, the median sale price has been $395,000 in Norfolk County – compared to $360,000 in 2012.

Middlesex County, on the other hand, has also seen an increase in home sales this year (6,455 compared to 5,945 a year ago) and saw a better July than last year (1,524 this year compared to 1,246 last year).

The median sale price in Middlesex County, where Sherborn sits in July was $454,500, which is an increase from $424,500 a year ago. So far this year, the median sale price has been $422,500 in Middlesex County – compared to $395,000 in 2012.

“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's press release.

[Correction: A previous version of this article incorrectly noted the percentage increase of a home sold in Sherborn. The prices were accurate, and the percentage has been corrected. Sept. 24 9:50 a.m.]