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.
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 tgrillo@itemlive.com.