By THOMAS GRILLO
LYNN — Single-family home sales fell in January, but prices soared by more than 19 percent, according to The Warren Group, the Boston-based real estate tracker.
The number of homes sold during the first month of the year fell to 27, down from 40 a year ago. While sales slipped, the median price of a single-family dwelling increased to $295,000, up from $247,500.
Lynn’s condominium sales market also dropped in January. A total of 15 condos sold, down from 18 a year ago, a nearly 17 percent decrease. Despite falling sales, prices rose. The median price of a condo climbed to $185,000, a 12 percent hike from a year ago when the median was $165,000.
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Brokers say a combination of higher prices and few listings drove sales down.
At press time, there were 67 single-family homes for sale in Lynn and 22 condos. Agents say the inventory of available homes has been twice as high in the past.
Thomas Grillo can be reached at [email protected].