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.