BOSTON, February 28, 2018 – 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 2.0 percent to $350,000, up from $342,900 a year earlier. Meanwhile, 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,” said Tm Warren, CEO of The Warren Group. “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.
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Customers use The Warren Group to identify new business opportunities through access to comprehensive real estate and mortgage data, analytics, industry news coverage, networking, and education opportunities. Based in Boston, the company was established in 1872 and is now in its fourth generation of family ownership and management. It is the publisher of Banker & Tradesman, The Commercial Record and Registry Review and architect behind some of the leading events and conferences for banking, legal, and real estate professionals in all of New England. For more information visit www.thewarrengroup.com.