Here's July 2018s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
July 2018 Greater Boston Real Estate Market Trends
Increases in sales of single-family detached homes and condominiums kept the Greater Boston housing market red hot in July despite appreciating home prices and a short supply of homes for sale according to data released by the Greater Boston Association of REALTORS (GBAR).
Sales of single-family detached homes increased from 1,560 homes sold in July 2017 to 1,651 homes sold last month. This is a 5.8 percent increase in sales volume and ranks fifth best all-time for homes sold for the month of July in Greater Boston. The condo market also experienced a sales increase in July, rising to 1,250 units sold from the 1,168 units sold in July 2017. This 7.0 percent increase makes for the fifth most-active month of July for the condo market in Greater Boston. Additionally, this is the first time since April that both markets had a year-over-year increase in closed sales.
- July condo sales UP +7.0%
- Median prices UP +13.2% ($600,000)
- Active Listings DOWN -10.4% to 1,723
- Listings added to the market DOWN -7.8% over last year (1,021 from 1,107 in 2017)
- July single-family home sales UP +5.8%
- Median prices UP +7.7% ($647,680)
- Active Listings DOWN -8.0% to 2,770
- Listings added to the market UP +3.3% over last year (1,373 from 1,329 in 2017)
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