Here’s October 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
October 2018 Greater Boston Real Estate Market Trends
The combination of a slower sales pace and a steady increase in the number of homes for sale in metropolitan Boston helped to create a more balanced housing market and improved opportunity for buyers entering the residential housing market during October, according to data released by the Greater Boston Association of REALTORS® (GBAR).
Last month, a total of 1,073 single-family detached homes were sold in metropolitan Boston, which was the sixth highest sales total on record for the month but reflects a modest 4.4 percent decrease from the 1,122 homes sold in October 2017. On a month-to-month basis, however, single-family home sales rose a healthy 8.5 percent from September when just 989 homes were sold. Similarly, the condo market declined on an annual basis by 8.6 percent, from 861 units sold in October 2017 to 787 last month, but on a month-to-month basis the number of condos sold rose 3.7 percent from 759 units sold in September.
- October condo sales DOWN -8.6%
- Median prices UP +7.3% ($542,000)
- Active Listings UP +13.9% to 2,332
- Listings added to the market UP 20.3% over last year (1,324 from 1,101 in 2017)
- October single-family home sales DOWN -4.4%
- Median prices UP +7.1% ($605,000)
- Active Listings UP +5.0% to 3,076
- Listings added to the market UP +20.6% over last year (1,574 from 1,305 in 2017)