Here’s January 2017’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
January 2017 Greater Boston Real Estate Market Trends
The Greater Boston housing market saw steady sales and healthy price appreciation along with a continued shortage of supply of homes for sale in January 2017. The condo market sales increased a modest 1 percent last month from 604 condos sold in January 2016 to 610 sold last month. This is the second consecutive month that condo sales have softened slightly, however this total was comfortably above the monthly average of 530 sold condos.The detached single-family home market saw a slight decline in sales in January as 828 homes were sold last month compared to January monthly record-high of 843 last year. This is a 1.8 percent drop; however the 828 homes sold is the second highest total for the month on record. It is the second consecutive month that sales have dropped slightly on a monthly basis.
- January condo sales UP +1.0%
- Median prices UP +12.8% ($500,000)
- Active Listings DOWN -29.1% to 1,218
- Listings added to the market UP +1.8% over last year (829 from 814 in 2016)
- January single-family home sales DOWN -1.5%
- Median prices UP +6.1% ($520,000)
- Active Listings DOWN -36.9% to 1,749
- Listings added to the market DOWN -2.0% over last year (909 from 928 in 2016)