Here’s March 2017’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
March 2017 Greater Boston Real Estate Market Trends
The spring housing market got off to a strong start as sales of single-family homes and condominiums rose in March, following a mild winter, steady incoming job growth, and high buyer demand according to data issued today by the Greater Boston Association of REALTORS® (GBAR).
Sales of single-family detached homes saw a 5.6 percent increase in year-over-year sales in March, as 825 homes were sold compared to the 781 homes sold in March 2016. This is the fifth highest sales total on record for the month of March and is the highest sales total since the record 1,001 homes sold in March 2007. Likewise, sales of condos rose 7.1 percent from March 2016 to last month as 810 condos were sold compared to 756 the previous year. Last month’s condo sales were the fourth highest on record, and similar to the single-family sales, was the highest sales total since the record 950 condos sold in March 2007.
- March condo sales UP 7.1%
- Median prices UP 8.6% ($520,000)
- Active Listings DOWN -28.8% to 1,501
- Listings added to the market DOWN -7.5% over last year (1,436 from 1,553 in 2016)
- March single-family home sales UP 5.6%
- Median prices UP 17.5% ($555,000)
- Active Listings DOWN -36.0% to 2,296
- Listings added to the market DOWN -14.5% over last year (1,881 from 2,199 in 2016)