Massachusetts sales for single-family homes increased just over 3 percent to 2,425 last month, the highest January total since 2007, the Warren Group reported this morning.
But median prices in January dropped 3.7 percent to $260,000 on a year-to-year comparison basis, said the Warren Group, a Boston firm that tracks local real estate activity.
January was the fifth consecutive month that median home prices have been below $300,000, the firm added.
In the Massachusetts condo market, the volume of sales fell in January, dropping 4.3 percent to 903.
The median condo price in January rose 1 percent to $247,500, the Warren Group said.
On a volume basis, all of 2011 had the fewest number of single-family home sales in Massachusetts since 1990, according to Warren Group.
But there are signs now of modest improvement, suggested Timothy M. Warren Jr., chief executive of the Warren Group.
“After a decline in sales volume in December, it’s promising to see the highest sales volume in five years in January,” Timothy Warren said in a statement. “Given low mortgage rates and steady prices, there’s hope this year may fare a bit better.”
The Massachusetts Association of Realtors issued a separate report on residential real activity in the state during the month of January.
While the association uses a different method to track sales, its results were roughly in line with those of the Warren Group’s.
“We’re pleased to see that January was another positive month for home sales in Massachusetts,” Trisha McCarthy, president of the Massachusetts Association of Realtors, said in a statement. “With each month of improved economic news, buyer confidence continues to build. It is this confidence combined with the ongoing low interest rates and home affordability that will lead to a real estate market recovery.”
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