Here’s June 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
June 2018 Greater Boston Real Estate Market Trends
Sales of single-family homes and condominiums remained historically strong in June but were unable to keep pace with year ago levels due to stubbornly low inventory levels and steadily appreciating home values, according to data issued by the Greater Boston Association of REALTORS® (GBAR).
The single-family detached home market experienced a softening in sales in June as 1,822 homes were sold compared to 1,942 homes sold in June 2017, which was a record high for the month. Despite this 6.2 percent decline, this was the fifth highest sales volume on record for the month of June in Greater Boston and reflects a near 50 percent increase in home sales over the number of homes sold in May. The condo market experienced a more modest decline in sales of 2.3 percent, as the 1,342 condos sold last month fell short of the June 2017 total of 1,374 units sold. This is the seventh highest sales total on record for the month of June and a healthy 20 percent improvement from the previous month.
- June condo sales DOWN -5.7%
- Median prices UP +10.6% ($575,000)
- Active Listings UP +1.6% to 2,007
- Listings added to the market DOWN -2.8% over last year (1,473 from 1,516 in 2017)
- June single-family home sales DOWN -6.2%
- Median prices UP +7.1% ($652,500)
- Active Listings DOWN -4.6% to 3,059
- Listings added to the market UP +5.7% over last year (1,961 from 1,856 in 2017)