The median price for single-family homes sold in January rose 9.6 percent to $285,000 from $260,000. It was the second consecutive month that median prices for single-family homes increased by nearly 10 percent when compared to the prior year; however, last month’s median selling price was 12 percent lower than it was in January 2008.
Sales of single-family homes jumped 11.8 percent to 2,153 from 1,926 in January 2009, posting the fourth consecutive month of double-digit percentage increases in single-family home sales.Condominium sales and median prices also surged last month. The median condo price jumped 16.7 percent to $245,000 from $209,900 in January 2009. It was the third straight month that median condo prices increased year-over-year. Condo sales soared 25.3 percent to 1,011 in January from 807 the previous year. Condo sales have climbed by more than 10 percent year-over-year for four straight months.