Here's September 2016s Monthly Indicators report from the Greater Boston Association of Realtors showing Boston real estate market trends.
September 2016 Greater Boston Real Estate Market Trends
As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are probable for the rest of the year but not guaranteed.
- September condo sales UP +4.4%
- Median prices UP +19.2% ($507,000)
- Condo inventory DOWN -18.6% to 1,716
- Listings added to the market UP +2.3% over last year (1,473 from 1,440 in 2015)
- September single-family home sales DOWN -6.0%
- Median prices UP +3.3% ($508,000)
- Single-family inventory DOWN -22.7% to 3,021
- Listings added to the market DOWN -3.2% over last year (1,890 from 1,953 in 2015)
- September multi-family home sales DOWN -15.8%
- Median prices DOWN -2.5% ($577,250)
- Multi-family inventory DOWN -49.5% over last year (333 from 659 in 2015)
- Listings added to market DOWN -12.7% over last year (302 from 346 in 2015)