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.
- 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)
- 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)