Here’s December 2017’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
December 2017 Greater Boston Real Estate Market Trends
Sales of detached single-family homes and condominiums softened in December amid appreciating home prices and rising inventory, according to data released today by the Greater Boston Association of REALTORS® (GBAR).
The 1,027 single-family detached homes sold in December 2017 was a 9.7 percent decrease in sales from the 1,137 homes sold in December 2016. This total was the seventh-highest on record for the month of December, and is above the monthly sales average since 2003 of 984 homes sold. The condo market also experienced a decrease in sales as 793 units were sold in December 2017, which reflects a 14.3 percent drop in sales from the 925 units sold in December 2016, which is also the record high for December. This was the eighth most active December on record for condo sales and sits above the historical monthly average of 772 units sold.
- December condo sales DOWN -14.3%
- Median prices UP +15.8% ($542,000)
- Active Listings UP +7.3% to 1,441
- Listings added to the market -18.8% over last year (358 in 2017 from 441 in 2016)
- December single-family home sales DOWN -9.7%
- Median prices UP 8.1% ($589,000)
- Active Listings UP +17.5% to 2,311
- Listings added to the market UP +1.8% over last year (405 in 2017 from 398 in 2016)