December 2018 Greater Boston Real Estate Market Trends

Here’s December 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


December 2018 Greater Boston Real Estate Market Trends

Sales of single-family detached homes and condominiums softened in December as higher mortgage rates, instability in the financial markets, and a seasonal decline in the supply of homes for sale led to reduced buyer demand according to data issued by the Greater Boston Association of REALTORS® (GBAR).

In December, a total of 965 single-family detached homes were sold in metropolitan Boston which is an 8.4 percent decline from the 1,053 homes sold in December 2017. The condo market took a similar path, as it experienced an 11.5 percent decline on an annual basis, dropping from 826 units sold in December 2017 to 731 this December.

For year-end totals, 13,568 homes were sold in a Greater Boston in 2018, a 2.2 percent decrease from the 13,867 homes sold in 2017. The condo market experienced a similar decline of 1.7 percent from 11,025 unites sold in 2017 to 10,837 in 2018.

Condominium
  • December condo sales DOWN -11.5%
  • Median prices 0.0% ($539,900)
  • Active Listings UP +22.0% to 1,476
  • Listings added to the market DOWN -3.4% over last year (345 from 357 in 2017)
Single-Family
  • December single-family home sales UP -8.4%
  • Median prices UP +0.2% ($590,000)
  • Active Listings UP -2.6% to 1,677
  • Listings added to the market UP +3.9% over last year (422 from 406 in 2017)

Interested In Specific Neighborhood / Area Real Estate Market Trend Data?

 

December 2018 Greater Boston Market Trends

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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What we are seeing in the Boston housing market as 2019 gets underway.

Boston housing market as 2019 gets underway

According to an analysis from real estate research site NeighborhoodX, average asking prices for market-rate homes at the more expensive end of the Boston market (Back Bay, Beacon Hill, and other parts of downtown) heading into 2019 converge at around $1,200 to $1,300 a square foot. The same is the case in less expensive areas such as Mattapan, Roxbury, and Hyde Park, although, there, the convergence is around $300 a foot.

Overall prices at the end of December ranged from a low of $159 a square foot in Mattapan to a high $3,857 a foot in Back Bay.

NeighborhoodX broke down both range and price per-square-foot to offer a different lens through which to analyze the market. At the lower end, this gives a sense of where (or whether) bargains can be found, or what the entry level price might be. At the upper end, especially with emerging neighborhoods, it gives a sense of where the neighborhood may be heading.

Check out the graph below to see a portion of the average consolidated neighborhood prices. Click here to review NeighborhoodX interactive breakdown of the full average, high and low prices per neighborhood.

Boston Average Consolidated Neighborhood Prices

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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Follow Me:
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November 2018 Greater Boston Real Estate Market Trends

Here’s November 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


November 2018 Greater Boston Real Estate Market Trends

Appreciating home prices, increased inventory of homes for sale and a strong buyer population helped the detached single-family home market reach a record high for units sold during the month of November, according to data released by the Greater Boston Association of REALTORS® (GBAR).

Last month, a total of 1,214 single-family detached homes were sold in metropolitan Boston, which set a historical high sales total for the month and is a 4.9 percent increase on the 1,157 homes sold in November 2017. Additionally, on a month-to-month basis, single-family home sales rose 11.8 percent from 1,087 in October 2018. 
The condo market, however, experienced a 13.6 percent decline on annual basis, dropping from 979 units sold in November 2017 to 846 last month, which reflects the fourth-highest sales total on record for the month. Despite this drop, the number of condos sold on a month-to-month basis rose 6.7 percent from the 793 units sold in October.

Condominium
  • November condo sales DOWN -13.6%
  • Median prices UP +2.8% ($555,000)
  • Active Listings UP +17.0% to 2,070
  • Listings added to the market DOWN -0.6% over last year (834 from 839 in 2017)
Single-Family
  • November single-family home sales UP +4.9%
  • Median prices UP +4.0% ($588,450)
  • Active Listings UP +0.4% to 2,429
  • Listings added to the market DOWN -4.7% over last year (885 from 929 in 2017)

Interested In Specific Neighborhood / Area Real Estate Market Trend Data?

 

November 2018 Greater Boston Market Trends

Anna Roberts

REALTOR® & Operations Executive at Unit Realty Group.

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