Mass. homes sales and prices up in January

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News,Business,Massachusetts,Housing

BOSTON (AP) — The number of single-family homes sold in Massachusetts last month jumped to the highest January level since 2007.

Two organizations that track the market also reported Tuesday that median prices jumped by double-digit percentage points when compared to January 2013.

The Warren Group, a Boston-based publisher of real estate data, reported a 5 percent jump in sales year-over-year and a nearly 13 percent rise in the median price to $315,000.

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 to $320,000 made it 16 consecutive months of increases.

The organizations use slightly different numbers in their calculations.

Realtors President Peter Ruffini said prices are being driven by buyer demand and low inventory.

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