The number of January home sales increased to 3,422 from 2,736 in January 2015. The median price of a single-family home in January decreased 0.48 percent to $320,000 from $321,550 in January 2015.
January condo sales increased to 1,330 from 1,031 in January 2015, a 29 percent increase. The median condo price in the Bay State declined 3.04 percent to $290,875 from $299,999 in January 2015.
Real estate inventory remained tight in Massachusetts, especially in the Greater Boston area. The number of single-family houses available statewide declined 20.4 percent in January compared to January 2015, the Massachusetts Association of Realtors reported February 23, 2016. January was the 48th straight month of year-over-year declines in single-family inventory.
The number of condominiums available on the market decreased 18.6 percent in January compared to January 2015. The number of condo units in Massachusetts has declined on a year-over-year basis for 63 straight months.