Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS® February 2013 Quick Facts - 7.5% Year-Over-Year (YoY) Change in Closed Sales Single-Family Only The sun is shining brighter for longer, the birds are chirping a bit louder and people have a renewed spring in their step. And then there's the climate. Home buyers and sellers are readying themselves for an exciting spring market. Buyers are motivated by an attractive affordability environment, while more and more sellers are receiving near top dollar for their home. We've come a long way over the past 12 to 18 months but we're not there yet. Here's how February stacked up. + 10.7% Year-Over-Year (YoY) Change in Closed Sales Condominium Only + 0.7% 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 March 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 down 22.2 percent for detached homes and 15.5 percent for condominiums. Closed Sales decreased 7.5 percent for detached homes but increased 10.7 percent for condominiums. The Median Sales Price was up 8.8 percent to $429,900 for single-family properties but decreased 5.2 percent to $350,750 for condominiums. Months Supply of Inventory decreased 30.6 percent for single-family units and 46.9 percent for townhouse-condo units. A few consumers may feel less confident due to Washington's latest self- inflicted crisis. Others would advise not to read the news in the first place. The fact is, the economy continues to grow, but at a snail's pace. Sequestration is more of a nuisance than a real threat to recovery; and there's significant pent–up demand from renters, first-timers, parental basement dwellers and investors to counteract it. Single-Family Market Overview Condominium Market Overview Closed Sales Median Sales Price Housing Affordability Index
13
Embed
February 2013's Monthly Indicators report - Boston Real Estate Market Trends
Here's February 2013's Monthly Indicators report from the Greater Boston Association of Realtors®
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS®
February 2013 Quick Facts
- 7.5%
Year-Over-Year(YoY) Change inClosed Sales
Single-Family Only
The sun is shining brighter for longer, the birds are chirping a bit louder and people have a renewed spring in their step. And then there's the climate. Home buyers and sellers are readying themselves for an exciting spring market. Buyers are motivated by an attractive affordability environment, while more and more sellers are receiving near top dollar for their home. We've come a long way over the past 12 to 18 months but we're not there yet. Here's how February stacked up.
Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of March 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 down 22.2 percent for detached homes and 15.5 percent for condominiums. Closed Sales decreased 7.5 percent for detached homes but increased 10.7 percent for condominiums.
The Median Sales Price was up 8.8 percent to $429,900 for single-family properties but decreased 5.2 percent to $350,750 for condominiums. Months Supply of Inventory decreased 30.6 percent for single-family units and 46.9 percent for townhouse-condo units.
A few consumers may feel less confident due to Washington's latest self-inflicted crisis. Others would advise not to read the news in the first place. The fact is, the economy continues to grow, but at a snail's pace. Sequestration is more of a nuisance than a real threat to recovery; and there's significant pent–up demand from renters, first-timers, parental basement dwellers and investors to counteract it.
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 1,319 1,026 - 22.2% 2,282 1,929 - 15.5%
134 109
-- -- --6.0 - 30.6%
132
Months Supply of Inventory 8.7
Pending Sales + 7.6%1,269639 683 + 6.9% 1,179
90.8% 93.9%
- 17.5%
+ 3.4%Percent of OriginalList Price Received
Days on Market Until Sale
91.2%
- 18.6%
+ 3.2%
109
94.1%
2 2010 2 2011 2 2012 2 2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
Condominium Market Overview Key market metrics for the current month and year-to-date figures for Condominium Properties Only.
Inventory of Homes for Sale 3,257 1,915 - 41.2% -- -- --
Housing Affordability Index 132 146 + 11.0% 135 143
+ 17.6%
Median Sales Price $370,000 $350,750 - 5.2% $360,000 $360,000 0.0%
Closed Sales 384 425 + 10.7% 796 936
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
- 10.4%
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
New Listings 1,141 964 - 15.5% 2,095 1,878
+ 3.4%
Pending Sales 635 644 + 1.4% 1,118 1,263 + 13.0%
Percent of OriginalList Price Received
93.4% 96.8% + 3.6% 93.2% 96.3%
--
Days on Market Until Sale 123 93 - 24.6% 124 90 - 27.1%
Months Supply of Inventory 8.5 4.5 - 46.9% -- --
2 2010 2 2011 2 2012 2 2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
2-2010 2-2011 2-2012 2-2013
Closed Sales A count of the actual sales that have closed in a given month.
Single-FamilyYoY
ChangeCondominium
YoYChange
Mar-2012 648 + 16.5% 607 + 11.0%
Apr-2012 743 + 12.6% 758 + 20.1%
May-2012 1,005 + 20.5% 1,012 + 32.1%
Jun-2012 1,510 + 21.3% 1,264 + 20.3%
Jul-2012 1,279 + 25.3% 1,040 + 21.6%
Aug-2012 1,299 + 26.0% 1,204 + 25.3%
Sep-2012 766 - 1.2% 753 + 16.4%
Oct-2012 791 + 28.6% 711 + 38.9%
Nov-2012 907 + 32.6% 760 + 35.2%
Dec-2012 824 + 11.8% 767 + 19.3%
Jan-2013 604 + 15.5% 511 + 24.0%
Feb-2013 429 - 7.5% 425 + 10.7%
351 342
464
384
429 425
February
20132012 20132012
811742
987
796
1,033936
Year to Date
20132012 201320122011 2011 2011 2011
Total 10,805 + 18.2% 9,812 + 23.1%
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
Mar-2012 $414,838 - 1.5% $340,000 + 4.6%
Apr-2012 $418,500 - 2.9% $371,500 + 4.6%
May-2012 $465,000 + 1.4% $381,000 + 4.4%
Jun-2012 $503,250 - 0.3% $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% $366,265 + 5.1%
Nov-2012 $447,500 + 5.8% $380,000 + 8.4%
Dec-2012 $470,000 + 6.8% $382,000 + 10.7%
Jan-2013 $430,000 + 6.2% $370,000 + 4.2%
Feb-2013 $429,900 + 8.8% $350,750 - 5.2%
$380,000
$348,500
$395,000$370,000
$429,900
$350,750
February
20132012 20132012
$409,130
$350,000
$402,000
$360,000
$430,000
$360,000
Year to Date
20132012 201320122011 2011 2011 2011
Median $461,000 + 2.4% $379,000 + 5.3%
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 | 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
Mar-2012 4,668 + 2.1% 3,691 - 21.1%
Apr-2012 5,018 - 4.4% 3,844 - 25.7%
May-2012 5,115 - 9.7% 3,657 - 29.8%
Jun-2012 4,797 - 15.2% 3,392 - 33.4%
Jul-2012 4,372 - 20.7% 3,128 - 33.5%
Aug-2012 4,026 - 23.9% 2,729 - 35.2%
Sep-2012 4,232 - 24.1% 2,850 - 34.0%
Oct-2012 3,947 - 26.1% 2,618 - 36.0%
Nov-2012 3,319 - 26.8% 2,218 - 38.2%
Dec-2012 2,480 - 31.3% 1,674 - 40.5%
Jan-2013 2,486 - 31.9% 1,754 - 41.0%
Feb-2013 2,592 - 35.8% 1,915 - 41.2%
3,785 3,9094,040
3,257
2,592
1,915
February
20132012 201320122011 2011
Average 3,921 - 19.8% 2,789 - 33.2%
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 | 7
Historical Inventory of Homes for Sale Single-Family Condominium
-41.2%-16.7%+6.7% -35.8%
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
Mar-2012 7.2 - 12.4% 6.1 - 28.9%
Apr-2012 6.8 - 15.1% 5.1 - 38.1%
May-2012 5.1 - 25.1% 3.6 - 46.9%
Jun-2012 3.2 - 30.1% 2.7 - 44.6%
Jul-2012 3.4 - 36.7% 3.0 - 45.3%
Aug-2012 3.1 - 39.6% 2.3 - 48.3%
Sep-2012 5.5 - 23.2% 3.8 - 43.3%
Oct-2012 5.0 - 42.5% 3.7 - 53.9%
Nov-2012 3.7 - 44.8% 2.9 - 54.3%
Dec-2012 3.0 - 38.5% 2.2 - 50.1%
Jan-2013 4.1 - 41.0% 3.4 - 52.4%
Feb-2013 6.0 - 30.6% 4.5 - 46.9%
10.811.4
8.7 8.5
6.0
4.5
February
20132012 201320122011 2011
Average 4.7 - 29.3% 3.8 - 41.0%
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 648 570 - 12.0% 1,217 1,054
+ 3.5%
Pending Sales 362 376 + 3.9% 629 681 + 8.3%
Percent of OriginalList Price Received
93.9% 96.9% + 3.2% 93.4% 96.6%
--
Days on Market Until Sale 120 80 - 33.4% 120 78 - 35.1%