Residential sales recorded through the MLS® System of the Cambridge Association of REALTORS® Inc. posted a small year-over-year decline in January 2013.

According to the Association’s statistics, home sales numbered 162 units in January 2013, down two per cent (4 sales) from January 2012.

Home sales in the Cambridge area posted another solid showing in January, coming in roughly in line with the five and 10-year averages for the month. New listings have been on the rise, although not seeing anything worrisome on the supply side and the market remains firmly in balanced territory. Accordingly, price growth has moderated, but remains positive.

The average price for homes sold in January 2012 was $281,381, up two per cent on a year-over-year basis.

The dollar value of all home sales in January 2012 was $45.6 million, little changed from a year earlier.

New residential listings rose 14 per cent from levels in January 2012 to reach 491 units in January 2013.

There were 731 active residential listings on the Association’s MLS® System at the end of January, up seven per cent from a year earlier.

There were 4.5 months of inventory at the end of January, up from 4.1 months at the end of January 2012 but still below the long-run average for months of inventory at this time of the year in the Cambridge region. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all types of properties numbered 179 units in January, an increase of four per cent from a year earlier. The dollar value of all sales in January 2013 totalled $57.3 million, up 15 per cent from levels reported in January 2012.

 

Statistic from Cambridge Association of Realtors Inc.

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