june 2013's monthly indicators report - boston real estate market trends

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

June 2013 Quick Facts

- 2.8%

Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

As potentially the brightest sun in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings.

- 4.0%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

- 3.4%Year-Over-Year(YoY) Change inClosed SalesAll Properties

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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 July 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 14.2 percent for detached homes and 8.5 percent for condominiums. Closed Sales decreased 2.8 percent for detached homes and 4.0 percent for condominiums.

The Median Sales Price was up 7.8 percent to $541,500 for single-family properties and 5.5 percent to $422,000 for condominiums. Months Supply of Inventory decreased 33.6 percent for single-family units and 37.7 percent for townhouse-condo units.

The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 or 4.25 percent again but the days of 3.3 percent interest are likely behind us.

Single-Family Market Overview

Condominium Market Overview

Closed Sales

Median Sales Price

Housing Affordability Index

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

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 Jun-2012 Jun-2013 + / – YTD 2012 YTD 2013 + / –

Median Sales Price

- 35.4% -- --

- 11.5% 112 100 - 11.2%

--


Inventory of Homes for Sale

$502,500 + 7.6%

102 90

4,316 2,786

$541,500 + 7.8% $450,000

5,028 + 2.7%Closed Sales 1,511 1,468 - 2.8% 4,894

$484,000

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

93.8% 96.7%

- 23.6%

+ 3.0%Percent of OriginalList Price Received

Days on Market Until Sale

95.3%

- 37.2%

+ 3.2%

56

98.3%

Pending Sales + 10.8%6,9311,192 1,377 + 15.5% 6,257

Months Supply of Inventory 2.9

90 84

-- -- --1.9 - 33.6%

110

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 1,352 1,544 + 14.2% 9,223 8,966 - 2.8%

6 2010 6 2011 6 2012 6 2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

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


+ 5.1%

Median Sales Price $400,000 $422,000 + 5.5% $375,000 $399,900 + 6.6%

Closed Sales 1,264 1,214 - 4.0% 4,437 4,663

- 10.3%

Inventory of Homes for Sale 3,086 1,847 - 40.1% -- -- --

Housing Affordability Index 126 114 - 9.6% 133 119

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

--

Days on Market Until Sale 75 42 - 43.6% 96 62 - 35.5%

Months Supply of Inventory 2.4 1.5 - 37.7% -- --

+ 3.4%

Pending Sales 1,001 1,158 + 15.7% 5,721 6,338 + 10.8%

Percent of OriginalList Price Received

96.3% 99.7% + 3.5% 95.3% 98.5%

- 1.7%


New Listings 1,152 1,250 + 8.5% 7,874 7,741

6 2010 6 2011 6 2012 6 2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Jul-2012 1,279 + 25.3% 1,042 + 21.9%

Aug-2012 1,300 + 26.1% 1,204 + 25.3%

Sep-2012 766 - 1.2% 753 + 16.4%

Oct-2012 792 + 28.8% 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% 434 + 13.0%

Mar-2013 631 - 2.6% 629 + 3.6%

Apr-2013 778 + 4.7% 806 + 6.3%

May-2013 1,115 + 10.9% 1,066 + 5.3%

Jun-2013 1,468 - 2.8% 1,214 - 4.0%

1,245

1,051

1,511

1,264

1,468

1,214

June

20132012 20132012

4,1063,740

4,8944,437

5,0284,663

Year to Date

20132012 201320122011 2011 2011 2011

Total 10,896 + 11.7% 9,903 + 14.9%


Single-Family Condominium

200

400

600

800

1,000

1,200

1,400

1,600

1,800

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

Historical Closed Sales Activity Single-Family Condominium

-4.0%+20.3%+21.4%

Single-Family Condominium+5.1%+18.6%+19.2%-2.8% +2.7%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

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 $430,250 + 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% $350,375 - 5.3%

Mar-2013 $430,000 + 3.7% $405,500 + 19.3%

Apr-2013 $476,500 + 13.9% $389,000 + 4.7%

May-2013 $499,900 + 7.5% $410,000 + 7.6%

Jun-2013 $541,500 + 7.8% $422,000 + 5.5%

$505,000

$375,000

$502,500

$400,000

$541,500

$422,000

June

20132012 20132012

$450,000

$359,000

$450,000

$375,000

$484,000

$399,900

Year to Date

20132012 201320122011 2011 2011 2011

Median $475,000 + 5.3% $389,000 + 5.6%



$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


Historical Median Sales Price Single-Family Condominium

+5.5%+6.7%-0.5%

Single-Family Condominium+6.6%+4.5%0.0%+7.8% +7.6%


Single-FamilyYoY

ChangeCondominium

YoYChange

Jul-2012 102 + 13.9% 131 + 9.5%

Aug-2012 105 + 14.0% 133 + 9.0%

Sep-2012 121 + 17.2% 137 + 10.4%

Oct-2012 120 + 3.2% 139 + 7.3%

Nov-2012 117 + 6.7% 135 + 4.6%

Dec-2012 113 + 6.8% 136 + 3.6%

Jan-2013 125 + 3.7% 141 + 4.2%

Feb-2013 122 - 2.0% 146 + 11.1%

Mar-2013 121 + 3.4% 128 - 8.9%

Apr-2013 112 - 5.0% 135 + 2.6%

May-2013 104 - 5.0% 124 - 5.0%

Jun-2013 90 - 11.5% 114 - 9.6%

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.

89

117

102

126

90

114

June

98

122112

133

100

119

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Average 113 +3.8% 133 +3.2%



60

70

80

90

100

110

120

130

140

150

160

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

Historical Housing Affordability Index Single-Family Condominium

-9.6%+7.4%+14.6%

Single-Family Condominium-10.3%+9.2%+13.9%-11.5% -11.2%

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

Jul-2012 3,985 - 23.6% 2,846 - 37.2%

Aug-2012 3,747 - 25.8% 2,534 - 38.1%

Sep-2012 3,920 - 26.2% 2,632 - 37.0%

Oct-2012 3,637 - 28.3% 2,428 - 38.6%

Nov-2012 3,120 - 27.9% 2,095 - 39.5%

Dec-2012 2,396 - 31.4% 1,605 - 41.4%

Jan-2013 2,381 - 31.3% 1,656 - 41.5%

Feb-2013 2,490 - 33.4% 1,766 - 41.2%

Mar-2013 2,428 - 42.1% 1,782 - 47.3%

Apr-2013 2,769 - 37.7% 2,005 - 41.2%

May-2013 2,955 - 35.3% 2,008 - 39.3%

Jun-2013 2,786 - 35.4% 1,847 - 40.1%

5,2894,862

4,316

3,0862,786

1,847

June

20132012 201320122011 2011

Average 3,051 - 31.2% 2,100 - 40.0%



1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000


Historical Inventory of Homes for Sale Single-Family Condominium

-40.1%-36.5%-18.4% -35.4%

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

Jul-2012 3.1 - 39.0% 2.7 - 48.5%

Aug-2012 2.9 - 41.2% 2.1 - 50.6%

Sep-2012 5.1 - 25.3% 3.5 - 45.9%

Oct-2012 4.6 - 44.3% 3.4 - 55.8%

Nov-2012 3.4 - 45.6% 2.8 - 55.2%

Dec-2012 2.9 - 38.7% 2.1 - 51.0%

Jan-2013 3.9 - 40.6% 3.2 - 53.1%

Feb-2013 5.8 - 28.2% 4.1 - 48.0%

Mar-2013 3.8 - 40.5% 2.8 - 49.1%

Apr-2013 3.6 - 40.5% 2.5 - 44.7%

May-2013 2.7 - 41.7% 1.9 - 42.4%

Jun-2013 1.9 - 33.6% 1.5 - 37.7%

4.24.6

2.92.4

1.91.5

June

20132012 201320122011 2011

Average 3.5 - 41.0% 2.7 - 49.5%



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

Historical Months Supply of Inventory Single-Family Condominium

-37.7%-47.2%-32.8% -33.6%

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

Jul-2012 80 - 3.9% 71 - 20.6%

Aug-2012 87 - 5.7% 76 - 18.2%

Sep-2012 89 - 12.0% 85 - 18.1%

Oct-2012 90 - 17.4% 84 - 11.5%

Nov-2012 89 - 17.9% 77 - 29.9%

Dec-2012 97 - 12.4% 84 - 30.1%

Jan-2013 109 - 16.5% 88 - 29.6%

Feb-2013 111 - 17.2% 95 - 22.6%

Mar-2013 108 - 17.5% 72 - 39.0%

Apr-2013 94 - 22.1% 63 - 35.1%

May-2013 75 - 22.0% 51 - 40.4%

Jun-2013 56 - 37.2% 42 - 43.6%

9094

90

75

56

42

June

110 111110

96

84

62

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 86 - 17.6% 66 - 26.7%



40

60

80

100

120

140

160


Historical Days on Market Until Sale Single-Family Condominium

-43.6%-20.4%-0.1%

Single-Family Condominium-35.5%-13.4%-0.0%-37.2% -23.6%

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

Jul-2012 95.8% + 1.6% 96.6% + 1.7%

Aug-2012 94.8% + 1.5% 96.3% + 2.2%

Sep-2012 94.6% + 1.5% 96.4% + 2.3%

Oct-2012 94.3% + 2.8% 95.9% + 2.4%

Nov-2012 94.6% + 2.4% 96.2% + 2.5%

Dec-2012 94.2% + 2.2% 96.2% + 3.4%

Jan-2013 93.8% + 3.6% 95.9% + 3.2%

Feb-2013 94.1% + 3.2% 96.7% + 3.5%

Mar-2013 95.2% + 2.4% 97.6% + 3.8%

Apr-2013 96.7% + 3.4% 98.8% + 3.3%

May-2013 97.8% + 2.6% 99.4% + 3.5%

Jun-2013 98.3% + 3.2% 99.7% + 3.5%

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.

94.6% 94.7%95.3% 96.3%98.3% 99.7%

June

93.2% 93.9%93.8% 95.3%96.7% 98.5%

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Average 95.7% + 2.4% 97.3% + 2.8%



89%

91%

93%

95%

97%

99%

101%


Historical Percent of Original List Price Received Single-Family Condominium

+3.5%+1.8%+0.8%

Single-Family Condominium+3.4%+1.5%+0.7%+3.2% +3.0%

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

Jul-2012 952 + 25.6% 810 + 14.6%

Aug-2012 790 + 11.6% 734 + 19.9%

Sep-2012 874 + 28.7% 743 + 38.1%

Oct-2012 885 + 19.3% 795 + 34.5%

Nov-2012 697 + 13.5% 608 + 10.3%

Dec-2012 517 + 9.3% 463 + 11.6%

Jan-2013 639 + 4.4% 666 + 20.4%

Feb-2013 720 - 5.3% 722 - 3.5%

Mar-2013 1,206 + 4.5% 1,184 + 10.9%

Apr-2013 1,433 + 15.5% 1,294 + 10.6%

May-2013 1,556 + 19.9% 1,314 + 11.3%

Jun-2013 1,377 + 15.5% 1,158 + 15.7%

1,040

840

1,192

1,001

1,377

1,158

June

5,1314,546

6,2575,721

6,9316,338

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 11,646 + 13.8% 10,491 + 14.8%



200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200


Historical Pending Sales Activity Single-Family Condominium

+15.7%+19.2%+14.6%

Single-Family Condominium+10.8%+25.8%+21.9%+15.5% +10.8%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Jul-2012 1,022 - 12.5% 903 - 7.5%

Aug-2012 1,001 - 8.7% 790 - 7.5%

Sep-2012 1,419 - 10.2% 1,153 - 9.6%

Oct-2012 1,079 - 4.5% 881 - 2.1%

Nov-2012 649 - 3.3% 561 - 10.4%

Dec-2012 366 - 19.0% 319 - 17.8%

Jan-2013 903 - 6.2% 916 - 4.0%

Feb-2013 1,029 - 22.0% 966 - 15.3%

Mar-2013 1,395 - 30.5% 1,367 - 21.5%

Apr-2013 2,052 + 14.1% 1,696 + 13.1%

May-2013 2,043 + 14.6% 1,546 + 11.5%

Jun-2013 1,544 + 14.2% 1,250 + 8.5%

1,596

1,3421,352

1,152

1,544

1,250

June

9,0968,592

9,223

7,874

8,966

7,741

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 14,502 - 5.3% 12,348 - 4.2%



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

+8.5%-14.2%-15.3%

Single-Family Condominium-1.7%-8.4%+1.4%+14.2% -2.8%

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


- 1.6%

Median Sales Price $428,000 $447,000 + 4.4% $400,500 $430,000 + 7.4%

Closed Sales 706 643 - 8.9% 2,533 2,493

- 11.2%

Inventory of Homes for Sale 1,623 981 - 39.6% -- -- --

Housing Affordability Index 102 90 - 11.5% 112 100

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

--

Days on Market Until Sale 75 36 - 52.5% 94 53 - 43.4%

Months Supply of Inventory 2.3 1.5 - 33.6% -- --

+ 3.4%

Pending Sales 586 648 + 10.6% 3,247 3,474 + 7.0%

Percent of OriginalList Price Received

96.1% 99.4% + 3.5% 95.1% 98.4%

- 3.6%


New Listings 644 701 + 8.9% 4,496 4,336

6 2010 6 2011 6 2012 6 2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

june 2013's monthly indicators report - boston real estate market trends

Real Estate

greater boston association

interest rates

closed sales

massachusetts association

family condominium

family condominium 3

family condominium 5

date figures