Here's March 2016s Monthly Indicators report from the Greater Boston Association of Realtors
March 2016 Greater Boston Real Estate Market Trends
Employment figures are positive, wages are going up and employers are hiring. Consumers are holding for the right deal, even in the face of extremely low mortgage rates. As seller and builder confidence increases, we should see more activity in Q2 2016. The second quarter tends to rank as the best time to list a home for sale. But if inventory stays low, it will be difficult to sustain sales increases in year-over-year comparisons. Prices are seemingly not so high as to stall the market completely. Demand is present but an abundance of choice is not, and therein lies the rub.
- March single-family home sales UP +12.5% over last year
- March Single-family median prices were UP +0.6% to $472,000
- March condo sales - UP +30% and median prices UP +5.5% ($480,000)
- Inventory in March UP +14.8% to 2,618 and Condominiums UP +5.6% to 1,478
- SF listings added to the market in March UP +45.8% over last year. (1,519 from 1,118 in 2015)
- Condo listings added to the market UP +21.0% over last year. (1,530 from 1,264 in 2015)
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