| Massachusetts single-family home sales fell slightly last month, while the median price reached the highest mark on record for the month of January, according to a new report from The Warren Group, publisher of Banker & Tradesman.
Last month, there were 3,600 total sales recorded in Massachusetts, a 0.8 percent decline from January 2017. Meanwhile, the median single-family sale price increased 2 percent to $350,000, up from $342,900 a year earlier. The month-over-month median price fell 2.9 percent from $360,000 in December 2018.
“Although single-family home sales declined ever so slightly, the increased median home price is a good indicator that 2018 could be another record-setting year,” Timothy Warren Jr., CEO of The Warren Group, said in a statement. “Massachusetts is not alone in seeing low inventory curtail homes sales and push up home prices. The National Association of Realtors reports that across the country existing single-family home sales fell 4.8 percent in January and home prices rose 5.7 percent.”
Additionally, there were 1,444 condominiums sold in January, compared to 1,467 in January 2017 – a 1.6 percent decline. The median sale price rose by 4.6 percent, hitting $345,000 – the highest January median condo price in Massachusetts in history. Month-over-month, the median condo price fell 0.7 percent from $347,500 in December 2017.
