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.
- 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)
- 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)