Here's August 2019s Monthly Indicators Report from the Greater Boston Association of Realtors showing Boston real estate market trends.
[slideshare id=178785852&doc=monthly-market-insights-report-august-2019-191003142531&type=d]
August 2019 Greater Boston Real Estate Market Trends
Sales activity in the detached single-family home and condominium markets declined modestly from yearago levels across metropolitan Boston in August as home buyers proceeded more cautiously last month in response to speculation about an economic recession and evidence of softening in home prices and increased inventory, especially in the condo market, according to data released today by the Greater Boston Association of REALTORS (GBAR). Sales of single-family detached homes declined for third month this year, dropping 7.4 percent from 1,686 homes sold in August 2018 to 1,561 homes sold last month. This ranks eighth best all-time for homes sold for the month of August in Greater Boston and is also a 7.4 percent decrease from the 1,686 homes sold in July 2019. Activity also slowed in the condo market, as sales dropped 9.6 percent to 1,148 units sold compared to the 1,270 sales in August 2018. This was the twelfth most active condo sales total on record for August in Greater Boston and is a 1.4 percent decline from the 1,164 units sold in July 2019.
Condominium
- August condo sales DOWN -9.6%
- Median prices DOWN -1.7% ($565,000)
- Active Listings UP +9.3% to 2,076
- Listings added to the market DOWN -7% over last year (900 from 968 in 2018)
Single-Family
- August single-family home sales Down -7.4%
- Median prices UP +2.5% ($640,000)
- Active Listings DOWN -3.5% to 2,964
- Listings added to the market DOWN -14% over last year (1,069 from 1,12433 in 2018)
Only real estate professionals who are members of NATIONAL ASSOCIATION OF REALTORS® may call themselves REALTORS®. All REALTORS® must subscribe to NAR’s strict code of ethics, which is based on honesty, professionalism and the protection of the public.