Here's October 2017s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
October 2017 Greater Boston Real Estate Market Trends
Strong economic fundamentals, a steady influx of foreign investors, and a slightly more balanced housing market fueled an increase in the sales and prices of both detached single-family homes and condominiums during October, according to data released today by the Greater Boston Association of REALTORS (GBAR).
The 1,101 single-family detached homes sold in October 2017 was the fourth highest sales total on record for the month and was a 14.3 percent increase of the 963 homes sold in October 2016. With this rise in sales, it breaks the streak on six consecutive months that the single-family home sales had dropped on a year-to-year basis. This total was also well above the historical monthly average of 952 homes sold. There was a modest increase in sales volume in the condo market, as sales rose 1.8 percent to 842 in October 2017 from the 827 units sold in the same month in 2016. This made for the third most active October on record in Greater Boston for the condo market and was comfortably above the historical monthly sales average of 747 units sold.
- October condo sales UP +1.8%
- Median prices UP +6.6% ($511,525)
- Active Listings UP +4.8% to 2,214
- Listings added to the market 0.0% over last year (1,105 in 2017, 1,105 in 2016)
- October single-family home sales UP +14.3%
- Median prices UP 8.2% ($568,000)
- Active Listings DOWN -3.4% to 3,360
- Listings added to the market DOWN -0.1% over last year (1,300 from 1,301 in 2016)