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Health & Fitness

2014 Off To A Great Start!

 Driven by high demand and a shortage of houses on the market, more single-family homes were sold in Massachusetts last month than in any January since 2007, two organizations that track the real estate market reported Tuesday.

Median prices also shot up, according to analyses by The Massachusetts Association of Realtors and The Warren Group.

"The continued combination of buyer demand and a shortage of inventory resulted in prices rising in January," Realtors' President Peter Ruffini said. "Buyer demand also drove sales up, which puts emphasis on the need for more home sellers to enter the market. Rising prices mean more equity for homeowners and therefore a greater number may be in a better position to sell."

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The Warren Group, a Boston-based publisher of real estate data, reported a 5 percent jump in sales when compared to January 2013 and a nearly 13 percent rise.

"After ending 2013 on a mini slump for housing sales, these are impressive numbers for the middle of winter," CEO Timothy Warren Jr. said.

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"Buyers are hoping that the spring market will bring many more homes for sale and provide more choice," he added.

The Waltham-based Massachusetts Association of Realtors reported a more modest sales increase of just less than 1 percent. A more than 14 percent increase in median prices made it 16 consecutive months of increases.

The organizations use slightly different numbers in their calculations.

The Warren Group reported a nearly 17 percent increase in condominium sales in January year-over-year, and a 24 per surge in median prices.

The Realtors group reported a 5 percent jump in sales and a 20 percent boost in median prices.


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