January was another good month for single-family and condominium sales in the Bay State, according to the most recent report from The Warren Group, publisher of Banker & Tradesman.

There were 3,621 single-family homes sold in January, compared to 3,433 in January 2016, a 5.5 percent increase.

This marks the fourth highest January sales total on record and the highest number since 2005, when sales reached 3,637.

The median sale price of a single-family home in January reached $342,500, a 7 percent increase from $320,000 in January 2016. This marks the highest January median sale price in over a decade, when prices reached $349,000 in 2006.

“The 7 percent gain in median sale price in January is the biggest percentage gain for any month since March 2014,” Timothy Warren, CEO of The Warren Group, said in a statement. “The real estate market in Massachusetts continues its steady climb to surpass all previous peaks.”

The number of condominiums sold in January increased by 10.1 percent, with 1,469 sold compared with 1,334 sold in January 2016. Link single-families, condos had a surprisingly strong month; this marks the highest number of January sales in 11 years.

The median sale price for condos in January reached $329,000, a 12.7 percent increase from $291,875 in January 2016. This marks the highest January condo median sale price on record. The second highest January was in 2014, when prices reached $300,000. The condo market is thriving and shows no sign of slowing down anytime soon.

Single-Family Homes And Condos Hit Highest January Sales In 11 Years

by Banker & Tradesman time to read: 1 min
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