Here's August 2016s Monthly Indicators report from the Greater Boston Association of Realtors showing Boston real estate market trends.
August 2016 Greater Boston Real Estate Market Trends
Closed sales began to cool for much of the country last month, and conventional wisdom indicates that year-over-year declines are going to be present for the remainder of the year, given the low inventory situation in most markets. Demand is certainly present and has created competitive situations that have kept prices up. Rental prices are also up, which may lure more toward homeownership.
- August single-family home sales DOWN -0.4% over last year
- August single-family median prices were UP +8.7% ($575,000)
- August condo sales DOWN -4.1% and median prices UP +9.4% ($499,000)
- Inventory in August DOWN -28.1% to 2,585 and Condominiums DOWN -24.9% to 1,360
- SF listings added to the market in August DOWN -9.2% over last year. (1,208 from 1,331 in 2015)
- Condo listings added to the market UP +2.0% over last year. (955 from 936 in 2015)