Here’s July 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
July 2018 Greater Boston Real Estate Market Trends
Increases in sales of single-family detached homes and condominiums kept the Greater Boston housing market red hot in July despite appreciating home prices and a short supply of homes for sale according to data released by the Greater Boston Association of REALTORS® (GBAR).
Sales of single-family detached homes increased from 1,560 homes sold in July 2017 to 1,651 homes sold last month. This is a 5.8 percent increase in sales volume and ranks fifth best all-time for homes sold for the month of July in Greater Boston. The condo market also experienced a sales increase in July, rising to 1,250 units sold from the 1,168 units sold in July 2017. This 7.0 percent increase makes for the fifth most-active month of July for the condo market in Greater Boston. Additionally, this is the first time since April that both markets had a year-over-year increase in closed sales.
- July condo sales UP +7.0%
- Median prices UP +13.2% ($600,000)
- Active Listings DOWN -10.4% to 1,723
- Listings added to the market DOWN -7.8% over last year (1,021 from 1,107 in 2017)
- July single-family home sales UP +5.8%
- Median prices UP +7.7% ($647,680)
- Active Listings DOWN -8.0% to 2,770
- Listings added to the market UP +3.3% over last year (1,373 from 1,329 in 2017)