April 2019 Greater Boston Real Estate Market Trends

Here’s April 2019’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


April 2019 Greater Boston Real Estate Market Trends

April continued the moderate climb in inventory we’ve been seeing since February. This, combined with improved interest rates, loosened the tight market a bit and buyers responded according to data issued today from the Greater Boston Association of REALTORS® (GBAR).

Sales of single-family detached homes saw a year-over-year increase of 10.1 percent in April as 947 homes were sold
compared to the 860 homes sold in April 2019. The condo market dropped slightly in sales as 848 units were sold in 2019, a 4 percent decrease
from the 883 units sold in April 2019.

Condominium
  • April condo sales DOWN -4%
  • Median prices DOWN -5.8% ($559,500)
  • Active Listings UP +15.3% to 2,266
  • Listings added to the market UP +1.5% over last year (1,725 from 1,701 in 2018)
Single-Family
  • April single-family home sales UP +10.1%
  • Median prices UP +1.2% ($618,000)
  • Active Listings DOWN -1.8% to 2,721
  • Listings added to the market DOWN -6.9% over last year (2,031 from 2,182 in 2018)

Interested In Specific Neighborhood / Area Real Estate Market Trend Data?

 


Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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Increase your family’s net worth

A recent study from the Survey of Consumer Financing revealed that the net worth of a homeowner is over 44 times greater than that of a renter.

I know I sound redundant when I bring up the topic of buying versus renting, but I am going to mention it again. Everyone should realize that unless you are living somewhere rent-free, you are paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth.

In other words, every month that you pay your mortgage, you are paying off a portion of the debt that you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equity. As your home’s value increases you also gain home equity.

The Financing study also revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

That is why Gallup reported that Americans picked real estate as the best long-term investment for the fifth year in a row. According to this year’s results, 34% of Americans chose real estate. Stocks followed at 26%, and then gold, savings accounts/CDs, or bonds.

I know what some of you may be thinking, not everyone has the ability to buy and there is a myriad of reasons why it may not make sense for some. And I agree. My general rule of thumb is, if you have the down payment for the property you want to buy and you plan to live there for at least 3 years it probably makes sense. Here is a great online calculator to help you figure things out.

Reach out to me to discuss your specific situation.

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

More Posts - Website

Follow Me:
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December 2018 Greater Boston Real Estate Market Trends

Here’s December 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


December 2018 Greater Boston Real Estate Market Trends

Sales of single-family detached homes and condominiums softened in December as higher mortgage rates, instability in the financial markets, and a seasonal decline in the supply of homes for sale led to reduced buyer demand according to data issued by the Greater Boston Association of REALTORS® (GBAR).

In December, a total of 965 single-family detached homes were sold in metropolitan Boston which is an 8.4 percent decline from the 1,053 homes sold in December 2017. The condo market took a similar path, as it experienced an 11.5 percent decline on an annual basis, dropping from 826 units sold in December 2017 to 731 this December.

For year-end totals, 13,568 homes were sold in a Greater Boston in 2018, a 2.2 percent decrease from the 13,867 homes sold in 2017. The condo market experienced a similar decline of 1.7 percent from 11,025 unites sold in 2017 to 10,837 in 2018.

Condominium
  • December condo sales DOWN -11.5%
  • Median prices 0.0% ($539,900)
  • Active Listings UP +22.0% to 1,476
  • Listings added to the market DOWN -3.4% over last year (345 from 357 in 2017)
Single-Family
  • December single-family home sales UP -8.4%
  • Median prices UP +0.2% ($590,000)
  • Active Listings UP -2.6% to 1,677
  • Listings added to the market UP +3.9% over last year (422 from 406 in 2017)

Interested In Specific Neighborhood / Area Real Estate Market Trend Data?

 

December 2018 Greater Boston Market Trends

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterestGoogle PlusYouTube