Here's May 2016s Monthly Indicators report from the Greater Boston Association of Realtors
May 2016 Greater Boston Real Estate Market Trends
Although inventory is still being stretched thin in many areas, low mortgage rates coupled with higher wages have built a relatively sturdy housing marketplace. How long that can continue without fresh supply remains an important question, but conditions are seemingly good enough for serious buyers. With the current slow state of new construction for non-rental households, the road ahead could be tricky if demand remains high.
- May single-family home sales UP + 17.0% over last year
- May Single-family median prices were UP + 1.9% to $530,000
- May condo sales UP + 14.6% and median prices UP + 2.8% ($477,015)
- Inventory in May DOWN - 17.4% to 2,918 and Condominiums DOWN - 27.1% to 1,413
- SF listings added to the market in May DOWN - 17.7% over last year. (2,083 from 2,532 in 2015)
- Condo listings added to the market DOWN - 14.0% over last year. (1,429 from 1,662 in 2015)
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