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.
- 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)
- 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)
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