Here's August 2018s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
August 2018 Greater Boston Real Estate Market Trends
Sales and median selling prices of single-family detached homes and condominiums each rose steadily in August as strong job growth, attractive mortgage rates and years of pent-up buyer demand has made for a busier than normal summer market, according to data issued by the Greater Boston Association of REALTORS (GBAR).
Sales of single-family detached homes increased from 1,626 homes sold in August 2017 to 1,679 homes sold August 2018. This is a 3.3 percent increase in sales volume and ranks fourth all-time for homes sold in the month of August in Greater Boston. The condo market also experienced a sales increase, rising to 1,244 units sold from the 1,191 units sold in August 2017. This 4.5 percent increase makes for the eighth most active month of August for the condo sales in Greater Boston. This marks the second consecutive month that sales for both markets increased on a year-over-year basis. Notably, detached single-family homes also increased on a month-to-month basis, climbing nearly 2 percent from 1,648 homes sold in July, while condo sales fell from one month earlier, slipping 2 percent from 1,270 units sold in July.
- August condo sales UP +4.5%
- Median prices UP +8.3% ($573,778)
- Active Listings DOWN -8.4% to 1,623
- Listings added to the market UP 6.1% over last year (968 from 912 in 2017)
- August single-family home sales UP +3.3%
- Median prices UP +3.3% ($625,000)
- Active Listings DOWN -7.3% to 2,560
- Listings added to the market UP 0.3% over last year (1,252 from 1,248 in 2017)
Interested In Specific Neighborhood / Area Real Estate Market Trend Data?