February 2018 Greater Boston Real Estate Market Trends

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


February 2018 Greater Boston Real Estate Market Trends

Amid a short supply of homes for sale and rising mortgage rates, overall sales of single-family homes and condos softened in Greater Boston this February as compared to February 2017.

According to data issued from the Greater Boston Association of REALTORS® (GBAR). Sales of single-family detached homes saw a year-over-year decline of 5.5 percent in February as 481 homes were sold compared to the 509 homes sold in February 2017. This year’s sales total is the twelfth highest figure on record for the month of February, with the record of 665 homes sold in 2007. The condo market experienced a more modest decline in sales, falling 1.5 percent from 464 in February 2017 to 457 in February 2018. February’s condo sales total is the ninth highest on record for the month, with the record-high of 642 in 2007.

Condominium
  • February condo sales DOWN -1.5%
  • Median prices UP +5.0% ($546,000)
  • Active Listings DOWN -13.5% to 1,271
  • Listings added to the market UP +14.8% over last year (985 from 858 in 2017)
Single-Family
  • February single-family home sales DOWN -5.5%
  • Median prices UP 8.9% ($549,000)
  • Active Listings DOWN -16.2% to 1,786
  • Listings added to the market UP +10.1% over last year (1,162 from 1,055 in 2017)

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

 

GBAR Real Estate Market Report

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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Can You Guess Boston’s Priciest Zip Code?

02108 is it!

Covering parts of Back Bay, Downtown Crossing and Boston’s prestigious Beacon Hill neighborhood. 02108 is bursting with historic and upscale homes. Beacon Hill posted a $1,432,500 median sale price in 2017, a slight uptick from 2016 figures. The Suffolk County Zip climbed one position in Massachusetts rankings, while on a national level it rose two positions, becoming the #81 priciest Zip Code in the U.S.

02108 Boston Zip Code
It is no surprise that another Massachusetts Zip Code also ranks among the nation’s most expensive!

The second most expensive Zip in the region was 02481, which covers Wellesley Hills. The median there in 2017 was $1.4 million. Wellesley Hills is also the #97 most expensive Zip Code in the nation. 02481’s rise is thanks to a 9.6% increase in median sale price. Such prices placed both 02481 and 02108 among the 100 most expensive in the U.S. according to Property Shark research.

As the Massachusetts Association of Realtors® reports, price growth has been pushed to its highest levels in eight years due to demand and shortage of homes for sale. Prices rose over 5%, while inventory, days on the market, months of supply and new listings all fell.

Are you curious to see what homes are for sale in these Zip Codes? Visit 02108 and 02481.

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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January 2018 Greater Boston Real Estate Market Trends

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


January 2018 Greater Boston Real Estate Market Trends

Despite plummeting temperatures and seasonal interruptions, the Greater Boston housing market showed few signs of cooling down in January, as home and condo sales remained near record levels and home prices continued to rise amidst a continued shortage of homes for sale, according to data issued from the Greater Boston Association of REALTORS® (GBAR).
The detached single-family home market saw a slight decline in sales in January as 787 homes were sold compared to the 836 homes sold in January 2017. This is a 5.9 percent drop; however, it is the fifth highest sales total on record, and remains above the 15-year historical sales average for January of 699 homes sold. In the condo market, sales experienced a more modest decrease in sales volume of 2.2 percent from 624 condos sold in January 2017 to 610 sold January 2018. This was also comfortably above the monthly average of 537 sold condos and is the fourth highest sales total on record for the month.

Condominium
  • January condo sales DOWN -2.2%
  • Median prices UP +3.0% ($520,000)
  • Active Listings DOWN -19.9% to 1,173
  • Listings added to the market DOWN -11.1% over last year (736 in 2018 from 828 in 2017)
Single-Family
  • January single-family home sales DOWN -5.9%
  • Median prices UP 6.0% ($551,000)
  • Active Listings DOWN -24.3% to 1,525
  • Listings added to the market DOWN -12.9% over last year (776 in 2018 from 891 in 2017)

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

 

January Boston Real Estate Market Report

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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