Here's November 2018s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
November 2018 Greater Boston Real Estate Market Trends
Appreciating home prices, increased inventory of homes for sale and a strong buyer population helped the detached single-family home market reach a record high for units sold during the month of November, according to data released by the Greater Boston Association of REALTORS (GBAR).
Last month, a total of 1,214 single-family detached homes were sold in metropolitan Boston, which set a historical high sales total for the month and is a 4.9 percent increase on the 1,157 homes sold in November 2017. Additionally, on a month-to-month basis, single-family home sales rose 11.8 percent from 1,087 in October 2018. The condo market, however, experienced a 13.6 percent decline on annual basis, dropping from 979 units sold in November 2017 to 846 last month, which reflects the fourth-highest sales total on record for the month. Despite this drop, the number of condos sold on a month-to-month basis rose 6.7 percent from the 793 units sold in October.
- November condo sales DOWN -13.6%
- Median prices UP +2.8% ($555,000)
- Active Listings UP +17.0% to 2,070
- Listings added to the market DOWN -0.6% over last year (834 from 839 in 2017)
- November single-family home sales UP +4.9%
- Median prices UP +4.0% ($588,450)
- Active Listings UP +0.4% to 2,429
- Listings added to the market DOWN -4.7% over last year (885 from 929 in 2017)
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