February 2017 Greater Boston Real Estate Market Trends

Here’s February 2017’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


February 2017 Greater Boston Real Estate Market Trends

Amid a short supply of inventory, rising mortgage rates and higher prices in the condominium market, sales of single-family homes and condos softened in February in Greater Boston, 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 14.4 percent in February as 504 homes were sold compared to the 589 homes sold in February 2016. This year’s sales total the tenth highest figure on record, with the month’s record high of 665 homes sold coming in 2007. The condo market experienced a more modest decline in sales, falling 3.8 percent from 473 in February 2016 to 455 February 2017. This February’s condo sales total is the ninth highest on record, with the record-high of 642 also coming in 2007. In addition, both markets fell short of their historical monthly sales averages of 535 (single family) and 467 (condos).

Condominium
  • February condo sales DOWN -3.8%
  • Median prices UP +14.7% ($515,000)
  • Active Listings DOWN -27.6% to 1,272
  • Listings added to the market DOWN -8.5% over last year (860 from 940 in 2016)
Single-Family
  • February single-family home sales DOWN -14.4%
  • Median prices DOWN -2.4% ($505,000)
  • Active Listings DOWN -35.2% to 1,891
  • Listings added to the market DOWN -6.8% over last year (1,057 from 1,134 in 2016)

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

 

February 2017 Greater Boston Real Estate Monthly Indicators

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

Comments are closed.