September 2015 Greater Boston Real Estate Market Trends Report

Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS®

September 2015 Quick Facts

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Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of October 16, 2015. All data from MLS PropertyInformation Network, Inc. Provided by Greater Boston Association of REALTORS® and the Massachusetts Association of REALTORS®. Powered by 10K Research and Marketing.

+ 15.0%Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.

New Listings in the Greater Boston region were up 10.9 percent for single-family homes and 11.3 percent for condominiums. Closed Sales increased 15.0 percent for single-family homes and 4.1 percent for condominiums.

The Median Sales Price was up 7.5 percent to $455,000 for single-family properties and 3.4 percent to $428,500 for condominiums. Months Supply of Inventory decreased 21.9 percent for single-family units and 10.1 percent for townhouse-condo units.

With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in September, an increase in interest rates, did not happen. It most likely will before year's end. Until then, get out and enjoy the season.

+ 4.1%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

+ 10.1%Year-Over-Year(YoY) Change inClosed SalesAll Properties

Single-Family Market Overview

Condominium Market Overview

Closed Sales

Median Sales Price

Housing Affordability Index

Inventory of Homes for Sale

Months Supply of Inventory

Days On Market Until Sale

Percent of Original List Price Received

City of Boston Overview

Pending Sales

New Listings

Single-Family Market Overview Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.

Key Metrics Historical Sparklines Sep-2014 Sep-2015 + / – YTD 2014 YTD 2015 + / –

97.5% 98.0%

+ 3.0%

+ 0.5%Percent of OriginalList Price Received

Days on Market Until Sale

96.7%

- 4.7%

+ 0.8%

64

97.5%

Pending Sales

Median Sales Price

+ 10.4%11,6401,058 1,350 + 27.6% 10,539

- 10.1% -- --

- 4.0% 94 93 - 1.1%

--


Inventory of Homes for Sale

Months Supply of Inventory 4.0

$423,450 + 4.3%

67

103 99

70

-- -- --

4,306 3,870

3.2 - 21.9%

$455,000 + 7.5% $465,000

68

10,616 + 5.8%

All data from MLS Property Information Network, Inc. Provided by the Greater Boston Association of REALTORS® and the Massachusetts Association of REALTORS®. Powered by 10K Research and Marketing. | 2

New Listings 1,839 2,040 + 10.9% 15,178 15,805 + 4.1%

Closed Sales 1,066 1,226 + 15.0% 10,036

$485,000

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

Condominium Market Overview Key market metrics for the current month and year-to-date figures for Condominium Properties Only.


- 1.0%

Median Sales Price $414,500 $428,500 + 3.4% $417,000 $450,000 + 7.9%

Closed Sales 862 897 + 4.1% 8,041 7,960

- 4.4%

Inventory of Homes for Sale 1,958 1,832 - 6.4% -- -- --

Housing Affordability Index 106 105 - 0.2% 105 100

--

Days on Market Until Sale 53 52 - 2.8% 56 51 - 8.6%

Months Supply of Inventory 2.3 2.0 - 10.1% -- --

+ 0.7%

Pending Sales 836 895 + 7.1% 8,407 8,682 + 3.3%

Percent of OriginalList Price Received

99.0% 99.4% + 0.4% 99.5% 100.2%

+ 3.6%


New Listings 1,277 1,421 + 11.3% 10,512 10,893

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

Closed Sales A count of the actual sales that have closed in a given month.

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 1,048 - 3.8% 865 + 7.1%

Nov-2014 960 - 7.8% 651 - 14.2%

Dec-2014 1,116 + 3.2% 811 - 2.9%

Jan-2015 742 + 1.4% 481 - 15.3%

Feb-2015 554 + 6.5% 449 - 0.2%

Mar-2015 711 - 0.1% 579 - 16.3%

Apr-2015 787 - 8.7% 677 - 21.9%

May-2015 1,084 - 10.1% 948 - 5.1%

Jun-2015 1,872 + 11.2% 1,376 + 8.4%

Jul-2015 1,911 + 9.9% 1,342 + 12.2%

Aug-2015 1,729 + 14.1% 1,211 + 6.4%

Sep-2015 1,226 + 15.0% 897 + 4.1%

Total 13,740 + 3.7% 10,287 - 1.5%


1,139

932

1,066

862

1,226

897

Single-Family Condominium

September

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015

Historical Closed Sales Activity Single-Family Condominium

+4.1%-7.5%-6.4%

20152014 20152014

10,678

8,524

10,036

8,041

10,616

7,960


Year to Date

-1.0%-5.7%-6.0%

20152014 20152014

+15.0% +5.8%

2013 2013 2013 2013

Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 $435,000 + 3.6% $394,000 - 0.6%

Nov-2014 $450,000 + 8.4% $415,000 + 5.1%

Dec-2014 $443,500 + 2.0% $425,000 + 4.9%

Jan-2015 $446,000 + 6.7% $443,000 + 10.9%

Feb-2015 $438,500 + 7.6% $407,135 + 4.4%

Mar-2015 $432,500 + 1.3% $449,000 + 6.9%

Apr-2015 $470,000 + 6.8% $438,500 + 10.5%

May-2015 $480,000 + 3.4% $456,325 + 9.3%

Jun-2015 $526,655 + 3.3% $459,500 + 4.5%

Jul-2015 $525,000 + 4.0% $460,000 + 9.8%

Aug-2015 $497,100 + 1.4% $460,000 + 9.8%

Sep-2015 $455,000 + 7.5% $428,500 + 3.4%

Median $475,000 + 5.0% $440,000 + 6.7%


$431,500

$395,000

$423,450 $414,500

$455,000$428,500


September

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000


Historical Median Sales Price Single-Family Condominium

+3.4%+4.9%-1.9%

20152014 20152014

$440,000

$390,000

$465,000

$417,000

$485,000

$450,000


Year to Date

+7.9%+6.9%+5.7%

20152014 20152014

+7.5% +4.3%

2013 2013 2013 2013


Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 102 - 3.0% 113 + 1.1%

Nov-2014 99 - 12.1% 108 - 9.3%

Dec-2014 101 - 1.4% 106 - 4.2%

Jan-2015 103 + 1.0% 103 - 2.8%

Feb-2015 105 - 1.2% 113 + 1.9%

Mar-2015 105 + 3.4% 101 - 2.0%

Apr-2015 97 - 0.3% 104 - 3.6%

May-2015 96 + 0.4% 101 - 5.0%

Jun-2015 86 - 1.1% 98 - 2.3%

Jul-2015 84 - 3.1% 96 - 8.2%

Aug-2015 90 - 0.4% 97 - 8.0%

Sep-2015 99 - 4.0% 105 - 0.2%

Average 97 -1.8% 104 -3.6%

This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.


103

112103 106

99105


September

50

60

70

80

90

100

110

120

130

140

150

Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015

Historical Housing Affordability Index Single-Family Condominium

-0.2%-5.9%+0.7%

101

114

94

105

93100


Year to Date

-4.4%-7.6%-6.5%

20152014 20152014 20152014 20152014

-4.0% -1.1%

2013 2013 2013 2013

Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month.

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 4,189 + 7.6% 1,969 - 8.8%

Nov-2014 3,501 + 3.8% 1,650 - 10.1%

Dec-2014 2,774 + 2.7% 1,298 - 13.4%

Jan-2015 2,638 - 1.7% 1,310 - 13.2%

Feb-2015 2,431 - 14.2% 1,249 - 20.8%

Mar-2015 2,603 - 15.7% 1,395 - 17.1%

Apr-2015 3,331 - 7.6% 1,765 - 5.9%

May-2015 3,866 - 7.3% 1,942 - 4.8%

Jun-2015 3,995 - 5.7% 1,910 - 4.8%

Jul-2015 3,936 - 5.5% 1,804 - 6.5%

Aug-2015 3,736 - 7.2% 1,648 - 6.6%

Sep-2015 3,870 - 10.1% 1,832 - 6.4%

Average 3,406 - 5.1% 1,648 - 9.5%


4,062

2,229

4,306

1,958

3,870

1,832


September

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000


Historical Inventory of Homes for Sale Single-Family Condominium

-6.4%-12.2%+6.0%

20152014 20152014

-10.1%

2013 2013

Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 4.0 + 11.8% 2.3 - 14.8%

Nov-2014 3.6 + 12.5% 2.5 + 4.8%

Dec-2014 2.5 - 0.5% 1.6 - 10.8%

Jan-2015 3.6 - 3.0% 2.7 + 2.5%

Feb-2015 4.4 - 19.4% 2.8 - 20.7%

Mar-2015 3.7 - 15.6% 2.4 - 0.9%

Apr-2015 4.2 + 1.2% 2.6 + 20.6%

May-2015 3.6 + 3.1% 2.0 + 0.3%

Jun-2015 2.1 - 15.2% 1.4 - 12.2%

Jul-2015 2.1 - 14.0% 1.3 - 16.7%

Aug-2015 2.2 - 18.6% 1.4 - 12.2%

Sep-2015 3.2 - 21.9% 2.0 - 10.1%

Average 3.1 - 2.5% 1.9 - 4.0%


3.6

2.4

4.0

2.3

3.2

2.0


September

0

2

4

6

8

10

12

14

16

Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015

Historical Months Supply of Inventory Single-Family Condominium

-10.1%-5.0%+13.3%

20152014 20152014

-21.9%

2013 2013

Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 71 + 13.0% 53 + 10.2%

Nov-2014 75 + 6.8% 57 + 0.5%

Dec-2014 79 + 11.2% 55 - 2.9%

Jan-2015 90 + 10.7% 63 - 3.5%

Feb-2015 105 + 11.2% 78 - 2.2%

Mar-2015 100 + 12.9% 69 - 0.4%

Apr-2015 90 + 4.7% 59 + 1.2%

May-2015 71 + 9.1% 47 - 8.4%

Jun-2015 60 + 2.0% 42 - 9.7%

Jul-2015 55 - 3.5% 41 - 18.7%

Aug-2015 61 + 2.8% 46 - 11.8%

Sep-2015 64 - 4.7% 52 - 2.8%

Total 71 + 4.7% 50 - 5.6%


64

50

67

53

64

52


September

30

50

70

90

110

130

150

170


Historical Days on Market Until Sale Single-Family Condominium

-2.8%+6.3%+4.9%

73

55

68

56

70

51


Year to Date

-8.6%+0.2%-7.0%

20152014 20152014 20152014 20152014

-4.7% +3.0%

2013 2013 2013 2013

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 96.5% - 0.4% 98.5% - 0.1%

Nov-2014 96.3% + 0.2% 98.2% - 0.4%

Dec-2014 95.3% - 0.6% 97.9% + 0.1%

Jan-2015 95.6% + 0.3% 97.8% + 0.7%

Feb-2015 95.1% - 0.7% 97.9% - 0.1%

Mar-2015 96.2% - 0.2% 98.6% - 0.2%

Apr-2015 97.2% - 0.2% 100.3% + 1.0%

May-2015 98.8% + 0.6% 100.8% + 0.2%

Jun-2015 99.2% + 0.5% 101.6% + 0.9%

Jul-2015 99.1% + 1.0% 101.1% + 1.3%

Aug-2015 98.2% + 0.5% 100.5% + 0.5%

Sep-2015 97.5% + 0.8% 99.4% + 0.4%

Average 97.5% + 0.3% 99.8% + 0.5%


Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

96.9% 98.8%96.7% 99.0%97.5% 99.4%


September

89%

91%

93%

95%

97%

99%

101%

103%

105%


Historical Percent of Original List Price Received Single-Family Condominium

+0.4%+0.2%-0.2%

96.8% 98.8%97.5% 99.5%98.0% 100.2%


Year to Date

+0.7%+0.8%+0.8%

20152014 20152014 20152014 20152014

+0.8% +0.5%

2013 2013 2013 2013

Pending Sales A count of the properties in UAG status between the first and last day in a given month, regardless of current status (based on Off Market Date).

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 1,171 + 2.8% 823 - 4.5%

Nov-2014 916 + 3.9% 654 - 2.5%

Dec-2014 651 + 9.6% 447 + 1.8%

Jan-2015 718 + 11.3% 558 - 11.7%

Feb-2015 667 - 15.9% 568 - 23.9%

Mar-2015 1,154 - 8.0% 981 - 6.8%

Apr-2015 1,581 + 7.2% 1,266 + 3.3%

May-2015 1,767 + 9.5% 1,279 + 13.4%

Jun-2015 1,824 + 20.5% 1,363 + 19.5%

Jul-2015 1,354 + 13.6% 958 + 3.3%

Aug-2015 1,225 + 23.2% 814 + 13.2%

Sep-2015 1,350 + 27.6% 895 + 7.1%

Total 14,378 + 9.3% 10,606 + 2.2%


1,058

815

1,058

836

1,350

895


September

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000


Historical Pending Sales Activity Single-Family Condominium

+7.1%+2.6%0.0%

11,317

9,043

10,539

8,407

11,640

8,682


Year to Date

+3.3%-7.0%-6.9%

20152014 20152014 20152014 20152014

+27.6% +10.4%

2013 2013 2013 2013

New Listings A count of the properties that have been newly listed on the market in a given month.

Single-FamilyYoY

ChangeCondominium

YoYChange

Oct-2014 1,545 + 5.2% 1,081 + 0.3%

Nov-2014 794 - 10.1% 602 + 0.8%

Dec-2014 591 + 9.9% 395 + 0.5%

Jan-2015 894 - 4.6% 709 - 10.5%

Feb-2015 697 - 38.9% 616 - 33.5%

Mar-2015 1,545 - 13.0% 1,253 - 4.0%

Apr-2015 2,525 + 12.6% 1,746 + 11.4%

May-2015 2,584 + 4.2% 1,620 + 9.6%

Jun-2015 2,361 + 18.2% 1,542 + 16.5%

Jul-2015 1,715 + 14.5% 1,078 + 1.3%

Aug-2015 1,444 + 14.0% 908 + 16.9%

Sep-2015 2,040 + 10.9% 1,421 + 11.3%

Total 18,735 + 3.7% 12,971 + 3.1%


1,800

1,317

1,839

1,277

2,040

1,421


September

0

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

2,750


Historical New Listing Activity Single-Family Condominium

+11.3%-3.0%+2.2%

15,253

11,359

15,178

10,512

15,805

10,893


Year to Date

+3.6%-7.5%-0.5%

20152014 20152014 20152014 20152014

+10.9% +4.1%

2013 2013 2013 2013

City of Boston – Market Overview Key market metrics for the current month and year-to-date figures for the City of Boston.


- 1.4%

Median Sales Price $461,000 $500,000 + 8.5% $469,000 $510,000 + 8.7%

Closed Sales 429 441 + 2.8% 4,122 4,064

- 1.1%

Inventory of Homes for Sale 986 960 - 2.6% -- -- --

Housing Affordability Index 103 99 - 4.0% 94 93

--

Days on Market Until Sale 50 48 - 4.2% 49 48 - 2.0%

Months Supply of Inventory 2.3 2.2 - 5.3% -- --

+ 0.4%

Pending Sales 424 443 + 4.5% 4,289 4,403 + 2.7%

Percent of OriginalList Price Received

98.5% 98.9% + 0.4% 99.5% 99.9%

+ 1.8%


New Listings 684 764 + 11.7% 5,481 5,580

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

9-2012 9-2013 9-2014 9-2015

Date post:	09-Feb-2017
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