Here's January 2019s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
January 2019 Greater Boston Real Estate Market Trends
Despite increased inventory levels and a decline in mortgage rates since last fall, sales of detached single-family homes and condominium fell by double-digit percentages during January in Greater Boston, according to data issued today from the Greater Boston Association of REALTORS (GBAR).
The detached single-family home market saw sales decline from 794 homes sold in January 2018 to 707 homes last month. This reflects an 11 percent decrease, but still ranks as the tenth highest sales total on record for the month. In the condo market, sales experienced a similar drop in sales volume of 12.4 percent last month, falling from 620 condos sold in January 2018 to 543 sold last month, making it the eighth highest sales total for condos in the month. On a month-to-month basis, sales declined even more significantly, mostly due to seasonal factors, sliding 27 percent from Decembers sales volume in each market.
- January condo sales DOWN -12.4%
- Median prices UP +9.6% ($570,000)
- Active Listings UP +30.0% to 1,753
- Listings added to the market UP +47.3% over last year (1,087 from 738 in 2017)
- January single-family home sales DOWN -11.0%
- Median prices UP +7.3% ($590,000)
- Active Listings UP +9.3% to 1,889
- Listings added to the market UP +37.3% over last year (1,072 from 781 in 2017)
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