Here's September 2017s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
September 2017 Greater Boston Real Estate Market Trends
A dwindling supply of homes for sale along with steadily appreciating home prices frustrated buyers across metropolitan Boston as the sales of detached single-family homes and condominiums declined modestly during September, according to data released by the Greater Boston Association of REALTORS (GBAR).
With 1,100 single-family detached homes sold in September 2017, it was the seventh highest sales total for the month, and was a 5.0 percent decrease in sales volume from the 1,158 homes sold in September 2016. This is the sixth consecutive month that the single-family home sales total has dropped on a year- to-year basis, however it was slightly above the September historical monthly sales average of 1,017 homes sold. The condo market also experienced a decline in sales as just 865 units were sold in September 2017, which is a 14.2 percent decrease in sales volume from the 1,008 units sold in September 2016. This was the seventh most active September on record in Greater Boston, and is just above the historical monthly average of 834 units sold.
- September condo sales DOWN -14.2%
- Median prices DOWN -2.4% ($497,500)
- Active Listings UP 3.4% to 2,280
- Listings added to the market DOWN -2.9% over last year (1,460 from 1,504 in 2016)
- September single-family home sales DOWN -5.0%
- Median prices UP 13.6% ($573,500)
- Active Listings DOWN -5.7% to 3,532
- Listings added to the market DOWN -1.5% over last year (1,886 from 1,914 in 2016)