The number of active listings in the 64 communities surrounding Boston kicked off the year with another decline, according to a report released this week from the Greater Boston Real Estate Board.

Single-family active listings dropped to 1,749 last month from the 2,771 active listings in January 2016, a decline of 36.9 percent. Likewise, the condominium market experienced a 29.1 percent drop in active listings as it fell from 1,718 in January 2016 to 1,218 condos for sale last month.

“Per usual, the record-high median sales prices are matched by the short supply, which last month hit an all-time monthly low for January,” GBREB president Melody Skye-Roloff said in a statement. “The prevalence of multiple-offer situations has also aided the price increases; sellers should feel confident about putting their homes on the market.”

The average days on market (DOM) dropped in both housing markets last month. In the single-family market, DOM fell from 77 days in January 2016 to 72 days last month, a 6.5 percent drop. Likewise, the condo market DOM dropped 9.3 percent from 54 days in January 2016 to 49 days last month.

GBREB Reports Listings, DOM Both Down In January

by Banker & Tradesman time to read: 1 min
0