MELROSE — The number of single-families sold so far this year in the city may be down from a year ago, but the median sale price certainly isn’t.

According to a new report from The Warren Group, a leading provider of real estate and transaction data, 16 single-families were sold in Melrose during the first two months of 2022. They fetched a median price of $793,500. During January and February 2021, 26 single-family homes sold in the city for a median price of $767,450.

A total of 9 single-families were sold in Melrose last month, compared to 13 the February before. Those 9 single-families sold for a median price of $724,900; the 13 sold in February 2021 went for a median price of $750,000.

The Warren Group report finds that Massachusetts single-family home and condominium sales declined by double digits in February as supply continued to fail to keep up with demand.

Last month, there were 2,593 single-family home sales in Massachusetts, a 14.7 percent decrease from February 2021 when there were 3,040 transactions. Meanwhile, the median single-family sale price increased 5.4 percent on a year-over-year basis to $470,000, up from $446,000 in February 2021 – a new all-time high for the month of February.

“The median sale price for single-family homes continued its upward climb in February as inventory struggled to keep up with demand,” said Tim Warren, CEO of The Warren Group. “The Massachusetts Association of Realtors reported that inventory of single-family homes for sale was down 50 percent in January. New listings and pending sales were down as well.

February was the eighth month in a row where the number of homes sold declined while the median price continued to rise. It is a familiar trend, one that is likely to continue unless sellers flood the spring market with new homes.”

Year-to-date, there have been 6,111 single-family home sales in Massachusetts, an 11.3 percent decrease from the first two months of 2021. Meanwhile, the year-to-date median single family home price increased 8.5 percent on the same basis to $485,000.

Condominiums

There were 1,212 condominium sales in February 2022, compared to 1,462 in February 2021 – a 17.1 percent decrease. Meanwhile, the median sale price rose 5.3 percent on a year-over-year basis to $440,000 – a new all-time high for the month of February.

“The 1,212 condo sales we saw in February marked the fewest condo sales for the month since 2018,” Warren added. “We see the same pattern with the condo market as we see with single-family home sales. Inventory, new listings, and pending sales declined, yet the median sale price continued to rise.”

Year-to-date, there have been 2,669 condo sales, a 15.5 percent decrease from the first two months of 2021 with a median sale price of $440,000, a 7.3 percent increase on the same basis.

In Melrose, 3 condos sold in February, compared to 8 in February 2021. The median price of the 3 sold last month was $475,000, compared to the $543,500 median price of the 8 sold in February of last year.

Through the end of February, a total of 9 condos were sold in Melrose for a median price of $469,000. Through the first two months of 2021, 18 condos had sold for a median price of $481,500.