Here’s November 2016’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
November 2016 Greater Boston Real Estate Market Trends
The story has remained consistent as concerns residential real estate. In year-over-year comparisons, the number of homes for sale has been fewer in most communities. Meanwhile, homes are selling in fewer days and for higher prices. This hasn’t always been the case, but it has occurred with enough regularity and for enough time to make it a trend for the entirety of 2016.
- November condo sales UP +7.2%
- Median prices UP +10.2% ($496,500)
- Condo inventory DOWN -27.4% to 1,318
- Listings added to the market DOWN -2.6% over last year (740 from 760 in 2015)
- November single-family home sales UP +16.8%
- Median prices UP +1.5% ($524,500)
- Single-family inventory DOWN -30.4% to 2,190
- Listings added to the market DOWN -4.0% over last year (842 from 877 in 2015)
- November multi-family home sales UP +25.2%
- Median prices UP +10.4% ($607,000)
- Multi-family inventory DOWN -56.5% over last year (238 from 547 in 2015)
- Listings added to market DOWN -12.6% over last year (181 from 207 in 2015)