Mass. single-family home, condo sales jump in January

SINGLE-FAMILY home sales climbed 5.5 percent over the year in January in Massachusetts, to 3,621 from 3,433 in January 2016, The Warren Group said Tuesday.  / BLOOMBERG NEWS PHOTO
SINGLE-FAMILY home sales climbed 5.5 percent over the year in January in Massachusetts, to 3,621 from 3,433 in January 2016, The Warren Group said Tuesday. / BLOOMBERG NEWS PHOTO

BOSTON – Single-family home sales climbed 5.5 percent over the year in January in Massachusetts, to 3,621 from 3,433 in January 2016, The Warren Group said Tuesday.
It was the fourth-highest January sales total on record, and the highest number since 2005, when sales reached 3,637, the group said.

January also saw the median sale price of a single-family home hit $342,500, a 7 percent increase from $320,000 a year ago, marking the highest January median sale price in more than a decade.

“The 7 percent gain in median sale price in January is the biggest percentage gain for any month since March 2014,” Timothy Warren, CEO of The Warren Group, said in a statement. “The real estate market in Massachusetts continues its steady climb to surpass all previous peaks.”

In January, Bristol County also saw increases in single-family home sales and the median sale price, of 10 percent and 4.7 percent, respectively. There were 297 single-family home sales in Bristol County in January and the sale price climbed to $267,000.

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Condominium sales rose 10.1 percent statewide in January, with 1,469 sold compared with 1,334 sold in January 2016. The Warren Group said last month marked the most January condo sales in 11 years.

The median sale price for condos in January reached a record $329,000 in Massachusetts, a 12.7 percent increase from $291,875 in January 2016. The second-highest median sales price recorded was $300,000 in 2014.

Condo sales in Bristol County fell, however, dropping 27.9 percent to 44 from 61 a year ago. But the median sale price for condos in Bristol County rose 28.2 percent over the same time period to $230,500 from $180,000.

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