Here's July 2016s Monthly Indicators report from the Greater Boston Association of Realtors showing Boston real estate market trends.
July 2016 Greater Boston Real Estate Market Trends
Even as prices rise in many communities, homes are selling faster now than they have in the past several years. This creates a situation where buyers need to move fast in order to secure homes, and they may have to pay more for them. While increasing prices generally coax more selling activity, there has been some hesitancy among potential sellers who worry that they will not be able to buy a desirable and reasonably priced home once they sell.
- July single-family home sales DOWN -16.1% over last year
- July Single-family median prices were UP + 4.5% to $575,000
- July condo sales DOWN -17.4% and median prices UP +7.6% ($495,000)
- Inventory in July DOWN 23.1% to 2,850 and Condominiums DOWN 23.0% to 1,457
- SF listings added to the market in July DOWN 18.8% over last year. (1,323 from 1,630 in 2015)
- Condo listings added to the market DOWN 1.1% over last year. (1,105 from 1,117 in 2015)
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