February 2017 Greater Boston Real Estate Market Trends

Here’s February 2017’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


February 2017 Greater Boston Real Estate Market Trends

Amid a short supply of inventory, rising mortgage rates and higher prices in the condominium market, sales of single-family homes and condos softened in February in Greater Boston, according to data issued from the Greater Boston Association of REALTORS® (GBAR).

Sales of single-family detached homes saw a year-over-year decline of 14.4 percent in February as 504 homes were sold compared to the 589 homes sold in February 2016. This year’s sales total the tenth highest figure on record, with the month’s record high of 665 homes sold coming in 2007. The condo market experienced a more modest decline in sales, falling 3.8 percent from 473 in February 2016 to 455 February 2017. This February’s condo sales total is the ninth highest on record, with the record-high of 642 also coming in 2007. In addition, both markets fell short of their historical monthly sales averages of 535 (single family) and 467 (condos).

Condominium
  • February condo sales DOWN -3.8%
  • Median prices UP +14.7% ($515,000)
  • Active Listings DOWN -27.6% to 1,272
  • Listings added to the market DOWN -8.5% over last year (860 from 940 in 2016)
Single-Family
  • February single-family home sales DOWN -14.4%
  • Median prices DOWN -2.4% ($505,000)
  • Active Listings DOWN -35.2% to 1,891
  • Listings added to the market DOWN -6.8% over last year (1,057 from 1,134 in 2016)

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

 

February 2017 Greater Boston Real Estate Monthly Indicators

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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Get Ready For Spring

Spring Gardening in the City

Gardening may prove difficult in an environment that lacks traditional backyard space, but it can be done! There are many alternative garden design solutions to create your own urban oasis. Gardens come in a variety of shapes, sizes and applications in the city. From roof deck gardens to patios to flower boxes. Many unoccupied spaces above, around and even inside your home could be converted into a beautiful city garden retreat. The right plants and accessories can set the tone. You can tackle the gardening adventure yourself or hire one of Boston’s many floral and garden landscape experts.

Check out the photos below and more here for gardening inspiration, and portfolio work by local landscapers.

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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January 2017 Greater Boston Real Estate Market Trends

Here’s January 2017’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


January 2017 Greater Boston Real Estate Market Trends

The Greater Boston housing market saw steady sales and healthy price appreciation along with a continued shortage of supply of homes for sale in January 2017. The condo market sales increased a modest 1 percent last month from 604 condos sold in January 2016 to 610 sold last month. This is the second consecutive month that condo sales have softened slightly, however this total was comfortably above the monthly average of 530 sold condos.The detached single-family home market saw a slight decline in sales in January as 828 homes were sold last month compared to January monthly record-high of 843 last year. This is a 1.8 percent drop; however the 828 homes sold is the second highest total for the month on record. It is the second consecutive month that sales have dropped slightly on a monthly basis.

Condominium
  • January condo sales UP +1.0%
  • Median prices UP +12.8% ($500,000)
  • Active Listings DOWN -29.1% to 1,218
  • Listings added to the market UP +1.8% over last year (829 from 814 in 2016)
Single-Family
  • January single-family home sales DOWN -1.5%
  • Median prices UP +6.1% ($520,000)
  • Active Listings DOWN -36.9% to 1,749
  • Listings added to the market DOWN -2.0% over last year (909 from 928 in 2016)

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

 

January 2017 Metro Boston Real Estate 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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