Mass. home sales faltered in Jan.

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By Sam Bonacci

Sales of single-family homes in Massachusetts decreased for the first time since September, according to The Warren Group.

The Boston-based real estate research organization said Tuesday that 2,685 single-family homes were sold across the state in January, a 2-percent drop from January 2014, when there were 2,736 sales. This is the fewest sales since February 2014, when 2,078 houses were sold.

"The slight decline in single-family home sales is not an indication of how the market will proceed in 2015," said Timothy M. Warren Jr., CEO of The Warren Group, in a statement. "I contend that there is pent-up demand for homes, but low inventory continues to plague the market.”

Warren theorized that buyers will be “out in force” from March through June, but sales will depend on whether there would be enough homeowners willing to sell and meet that demand.

Meanwhile, the median sale price in January rose 1.6 percent to $320,000.

Sales of single-family homes in Worcester and Middlesex counties were also down, with decreases of 2.17 percent and 0.34 percent respectively. The median sale price in Worcester County was down 5.12 percent, to $215,000, although Middlesex posted a 5.9 percent increase to $429,000.

In a separate report, the Massachusetts Association of Realtors (MAR) reported a larger drop of 4.9 percent in single-family home sales, but a greater jump in the median sale price of 3.1 percent compared to January of last year.

Both organizations reported a decline in condominium sales, with MAR reporting a 12.2 percent drop in sales, but a 3.3 percent rise in the median price compared to January 2014.

The Warren Group reported a smaller 10-percent drop in condo sales, while the median price remained unchanged at $300,000.

Worcester County saw a sharp decline in condo sales, according to the Warren Group's data, with an 18.48 percent decrease while the median sale price dropped 20.63 percent to $151,000. In Middlesex County, sales fell 12.69 percent but the median price rose 0.76 percent, to $324,950.