Despite a slackening of the market in the last few months of 2013, home and condo sales were red hot in January, with prices spiking to pre-recession levels in some cases.
According to the Warren Group, single-family home sales in Massachusetts increased by 5 percent in January, the best January sales numbers since 2007. Prices spiked by 12.5 percent compared to a year ago.
Condo sales were even hotter, up 16.6 percent last month, the best January since 2008. Meanwhile, median condo prices skyrocketed by 24 percent, allegedly to 1987 levels. We say “allegedly” because we think – repeat: think – that the Warren Group meant to say that they were the “highest January median price increase” since 1987.
But who are we to question the Warren Group?
“After ending 2013 on a mini slump for housing sales, these are impressive numbers for the middle of winter,” said Timothy M. Warren Jr., CEO of The Warren Group. “Still, low inventory continues to plague the market. The market needs more sellers to list their homes for sale in order to keep the rally in real estate moving ahead.”
File under: Winter
Chart via The Warren Group.
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Updated: December 2017
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
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