Pending home sales across the Bay State dipped for the first time in 22 months in January, the Massachusetts Association of Realtors (MAR) reported.  According to MAR’s January Future Indicators Report, there was a 16.2 percent decrease in accepted offers for single-family homes since the same time last year. The median price of accepted contracts was up to $320,000 from $280,000 in January 2014.   

January single-family pending sales fell to 2,593 compared with 3,097 in January 2014.

Condominium pending sales also dipped, but less severely, falling 4 percent to 1,238 in January 2015, compared with 1,290 in January 2014.

“We know buyers continue to be there, but the frigid weather and several snow storms, including our recent blizzard, put a damper on buyers going out to look at homes and making offers, which impacted pending sales in January,” 2015 MAR President Corinne Fitzgerald, broker-owner of Fitzgerald Real Estate in Greenfield, said in a statement.

She anticipated continuing impact on sales through February due to the severe weather. “The never-ending snow to start February has shifted everyone’s focus to digging out, rather than looking for homes. Hopefully, those being cooped up experiencing cabin fever will want to get out after they dig out and look for their new home when the weather clears,” Fitzgerald added.

Despite the fall in pendings, agents’ confidence in the strength of the market rebounded in January after more than a year of declines, with MAR’s Realtor Market Confidence Index rising 5.9 percent compared with the same time last year, to 63.34 from 59.8 in January 2014. However, Realtors were worried about prices continuing their rise, with the Realtor Price Confidence Index slipping 4.7 percent to 73.32 in January compared with 76.96 in January 2014.

This is the first increase in agent’s confidence after fourteenth straight months of declines, suggesting a strong sales finish to 2014 and brighter economic prospects has boosted agents’ moods. Index numbers greater than 50 indicate belief in strong market conditions.

“With sales up in December to close out the year, Realtors felt more positive about the market going into the New Year,” said Fitzgerald. “Realtors were experiencing the buyer demand in January and that activity was reflected in the Indexes. But they also understand that the weather will play a role in the sales process going forward.”