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.
- 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)
- 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)
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