Here’s July 2017’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
July 2017 Greater Boston Real Estate Market Trends
Amid a long-lasting short supply of homes for sale, the median sale price of both single family detached homes and condominiums continued to steadily climb in July while sales eased for the fourth consecutive month, according to data released by the Greater Boston Association of REALTORS® (GBAR).
Sales of single-family detached homes softened slightly last month as 1,533 homes were sold compared to the 1,605 homes sold in July 2016. This is a 4.5 decrease in volume which ranks seventh in all-time homes sold for the month in Greater Boston, and is slightly above the historical monthly average of 1,494 homes sold. The condo market experienced a more modest decline of 1.0 percent, dropping from 1,159 units sold in July 2016 to 1,147 in July 2017. This was also the seventh highest sales total for the month of July and sits just above the historical monthly average of 1,132 units sold.
- July condo sales DOWN -1.0%
- Median prices UP 7.1% ($530,000)
- Active Listings DOWN -13.8% to 1,912
- Listings added to the market DOWN 1.1% over last year (1,111 from 1,123 in 2016)
- July single-family home sales DOWN -4.5%
- Median prices UP 5.2% ($605,000)
- Active Listings DOWN -23.7% to 3,055
- Listings added to the market DOWN -0.3% over last year (1,332 from 1,336 in 2016)