Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS® April 2013 Quick Facts + 4.0% Year-Over-Year (YoY) Change in Closed Sales Single-Family Only The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up. + 6.1% Year-Over-Year (YoY) Change in Closed Sales Condominium Only + 5.1% Year-Over-Year (YoY) Change in Closed Sales All Properties 2 3 4 5 6 7 8 9 10 11 12 13 Inventory of Homes for Sale Click on desired metric to jump to that page. Months Supply of Inventory Days On Market Until Sale Percent of Original List Price Received City of Boston Overview Pending Sales New Listings Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of May 16, 2013. All data from MLS Property Information Network, Inc. Provided by Greater Boston Association of REALTORS® and the Massachusetts Association of REALTORS®. Powered by 10K Research and Marketing. New Listings in the Greater Boston region were up 14.1 percent for detached homes and 12.9 percent for condominiums. Closed Sales increased 4.0 percent for detached homes and 6.1 percent for condominiums. The Median Sales Price was up 13.5 percent to $475,000 for single-family properties and 4.7 percent to $389,000 for condominiums. Months Supply of Inventory decreased 39.9 percent for single-family units and 43.2 percent for townhouse-condo units. The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery. Single-Family Market Overview Condominium Market Overview Closed Sales Median Sales Price Housing Affordability Index
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April 2013's Monthly Indicators report - Boston Real Estate Market Trends
Here's April 2013's Monthly Indicators report from the Greater Boston Association of Realtors®. What's going on in the Boston real estate market? • Shortage of homes to buy has pushed sales down in April as buyer interest remains high. • Prices continue to move up because demand for available homes to buy is outpacing supply. • Sellers are gaining confidence as new listings added to the market jumped in April.
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Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS®
April 2013 Quick Facts
+ 4.0%Year-Over-Year(YoY) Change inClosed Sales
Single-Family Only
The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.
Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of May 16, 2013. 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.
New Listings in the Greater Boston region were up 14.1 percent for detached homes and 12.9 percent for condominiums. Closed Sales increased 4.0 percent for detached homes and 6.1 percent for condominiums.
The Median Sales Price was up 13.5 percent to $475,000 for single-family properties and 4.7 percent to $389,000 for condominiums. Months Supply of Inventory decreased 39.9 percent for single-family units and 43.2 percent for townhouse-condo units.
The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.
Single-Family Market Overview
Condominium Market Overview
Closed Sales
Median Sales Price
Housing Affordability Index
Single-Family Market Overview Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.
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. | Click for Cover Page | 2
New Listings 1,798 2,052 + 14.1% 6,088 5,375 - 11.7%
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. | Click for Cover Page | 3
Days on Market Until Sale 98 63 - 35.3% 113 77 - 32.2%
Months Supply of Inventory 5.1 2.9 - 43.2% -- --
4 2010 4 2011 4 2012 4 2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
4-2010 4-2011 4-2012 4-2013
Closed Sales A count of the actual sales that have closed in a given month.
Single-FamilyYoY
ChangeCondominium
YoYChange
May-2012 1,005 + 20.5% 1,012 + 32.1%
Jun-2012 1,511 + 21.4% 1,264 + 20.3%
Jul-2012 1,279 + 25.3% 1,041 + 21.8%
Aug-2012 1,299 + 26.0% 1,204 + 25.3%
Sep-2012 766 - 1.2% 753 + 16.4%
Oct-2012 791 + 28.6% 712 + 39.1%
Nov-2012 907 + 32.4% 760 + 35.0%
Dec-2012 824 + 11.8% 769 + 19.6%
Jan-2013 605 + 15.7% 514 + 24.8%
Feb-2013 431 - 7.1% 435 + 13.3%
Mar-2013 629 - 2.9% 629 + 3.6%
Apr-2013 773 + 4.0% 804 + 6.1%
660 631
743 758773804
April
20132012 20132012
2,0271,922
2,3782,161
2,438 2,382
Year to Date
20132012 201320122011 2011 2011 2011
Total 10,820 + 16.1% 9,897 + 21.3%
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. | Click for Cover Page | 4
Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.
Single-FamilyYoY
ChangeCondominium
YoYChange
May-2012 $465,000 + 1.4% $381,000 + 4.4%
Jun-2012 $502,500 - 0.5% $400,000 + 6.7%
Jul-2012 $510,000 + 2.0% $387,000 + 6.3%
Aug-2012 $490,000 - 1.8% $380,000 + 3.0%
Sep-2012 $430,475 - 4.3% $375,000 + 2.0%
Oct-2012 $430,000 + 10.3% $368,133 + 5.6%
Nov-2012 $447,500 + 5.9% $380,000 + 8.2%
Dec-2012 $470,000 + 6.8% $381,000 + 10.4%
Jan-2013 $430,000 + 6.2% $375,000 + 5.6%
Feb-2013 $429,900 + 8.8% $350,000 - 5.4%
Mar-2013 $430,000 + 3.7% $405,500 + 19.3%
Apr-2013 $475,000 + 13.5% $389,000 + 4.7%
$431,000
$355,000
$418,500
$371,500
$475,000
$389,000
April
20132012 20132012
$420,000
$344,000
$410,000
$359,900
$440,000
$383,000
Year to Date
20132012 201320122011 2011 2011 2011
Median $467,000 + 3.9% $383,000 + 5.7%
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. | Click for Cover Page | 5
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.
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. | Click for Cover Page | 6
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
May-2012 5,125 - 9.6% 3,662 - 29.7%
Jun-2012 4,808 - 15.0% 3,398 - 33.2%
Jul-2012 4,384 - 20.5% 3,137 - 33.3%
Aug-2012 4,039 - 23.7% 2,742 - 34.9%
Sep-2012 4,248 - 23.8% 2,866 - 33.6%
Oct-2012 3,978 - 25.5% 2,641 - 35.4%
Nov-2012 3,370 - 25.8% 2,253 - 37.2%
Dec-2012 2,559 - 29.2% 1,726 - 38.6%
Jan-2013 2,596 - 29.0% 1,833 - 38.3%
Feb-2013 2,742 - 32.2% 2,014 - 38.2%
Mar-2013 2,825 - 39.6% 2,171 - 41.2%
Apr-2013 3,141 - 37.5% 2,317 - 39.8%
5,252 5,1715,024
3,848
3,141
2,317
April
20132012 201320122011 2011
Average 3,651 - 25.2% 2,563 - 35.7%
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. | Click for Cover Page | 7
Historical Inventory of Homes for Sale Single-Family Condominium
-39.8%-25.6%-4.3% -37.5%
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
May-2012 5.1 - 25.0% 3.6 - 46.8%
Jun-2012 3.2 - 30.0% 2.7 - 44.5%
Jul-2012 3.4 - 36.6% 3.0 - 45.2%
Aug-2012 3.1 - 39.5% 2.3 - 48.1%
Sep-2012 5.5 - 22.9% 3.8 - 43.0%
Oct-2012 5.0 - 42.1% 3.7 - 53.6%
Nov-2012 3.7 - 43.9% 3.0 - 53.5%
Dec-2012 3.1 - 36.7% 2.2 - 48.7%
Jan-2013 4.3 - 38.6% 3.6 - 50.6%
Feb-2013 6.4 - 27.1% 4.6 - 45.5%
Mar-2013 4.5 - 37.7% 3.5 - 43.3%
Apr-2013 4.1 - 39.9% 2.9 - 43.2%
8.0 8.2
6.8
5.1
4.1
2.9
April
20132012 201320122011 2011
Average 4.3 - 35.4% 3.3 - 45.2%
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. | Click for Cover Page | 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. | Click for Cover Page | 9
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.
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. | Click for Cover Page | 10
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).
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. | Click for Cover Page | 11
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. | Click for Cover Page | 12
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. | Click for Cover Page | 13
New Listings 836 954 + 14.1% 3,044 2,742
+ 3.5%
Pending Sales 605 725 + 19.8% 1,781 1,966 + 10.4%
Percent of OriginalList Price Received
95.3% 98.5% + 3.3% 94.2% 97.5%
--
Days on Market Until Sale 103 54 - 47.1% 112 67 - 40.5%