Single-family home sales in Massachusetts jumped more than 5 percent in January, while median prices dropped nearly 7 percent, according to new data from The Warren Group, publisher of Banker & Tradesman.
A total of 2,190 single-family homes sold statewide in January, up from 2,081 in January 2010. This is the highest January sales volume for single-family homes in Massachusetts since January 2007, when there were 2,953 transactions.
"It’s promising to see the highest sales volume in four years in the state," said Timothy M. Warren Jr., CEO of The Warren Group. "However, a little later in the year, positive comparisons with 2010 will be tougher to achieve. In the spring, we will be comparing current sales with sales volume during the height of the homebuyer tax credit."
The median sale price of single-family homes decreased for the second consecutive month in January. Median sale prices dropped 6.9 percent in January to $270,000, down from $290,000 in January 2010. This is the fifth consecutive month that median home prices have remained below $300,000.
"It appears that renewed optimism about the economy is attracting buyers and allowing them to make deals at lower prices," Warren said. "Our January data reflects deals that were negotiated in November and December. It remains to be seen how badly the winter snowstorms have affected our real estate market."
Condominium sales posted a more significant decrease in January, dropping almost 18.5 percent to 808 from 991 in January 2010. January marks the seventh consecutive month that condo sales decreased in Massachusetts.
The median condo price in January also declined 4.6 percent to $233,750 from $245,000 in January 2010.





