January’s median single-family home price reached a new all-time high for the month, according to the Warren Group’s January market report.

Last month, single-family home sales rose 6.4% to $585,000, setting a new high for the month.  Single-family homes sales rose  9.3% to 2,626 from 2,403 transactions in January 2024.

Condominium sales and prices also had a stellar start to the new year.

Sales surged 19.1% to 1,159 transactions, compared to 973 in January 2024. Meanwhile, the median sale price increased 4.5% to $530,000, marking a new all-time high for the month.

“The increase in sales figures may indicate a rise in inventory as we head into the 2025 spring market, a welcome respite from several years of record-low homes for sale,” said Cassidy Norton, associate publisher and media relations director of the Warren Group.

The Greater Boston Market

The Warren Group’s January report also included activity in the Greater Boston housing market, which encompasses the 139 communities located within Route 495.

Greater Boston single-family home sales in January rose 10.6% from 2024 to 1,229. Meanwhile, the median single-family sale price increased 8.7% to $750,000.

Condo sales in Greater Boston also grew last month, surging 20.9% to 810 transactions. The median condo price, however, dipped 0.8% from last year to $620,000.