gbar monthly housing market data november 2016

November 2016 Quick Facts

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Monthly Indicators

The story has remained consistent as concerns residential real estate. In year-over-year comparisons, the number of homes for sale has been fewer in most communities. Meanwhile, homes are selling in fewer days and for higher prices. This hasn't always been the case, but it has occurred with enough regularity and for enough time to make it a trend for the entirety of 2016.

Closed Sales increased 16.8 percent for Single-Family homes and 7.2 percent for Condominium homes. Pending Sales increased 5.1 percent for Single-Family homes and 9.4 percent for Condominium homes. Inventory decreased 30.4 percent for Single-Family homes and 27.4 percent for Condominium homes.

The Median Sales Price was up 1.5 percent to $524,500 for Single-Family homes and 10.2 percent to $496,500 for Condominium homes. Days on Market decreased 16.4 percent for Single-Family homes and 28.6 percent for Condominium homes. Months Supply of Inventory decreased 32.1 percent for Single-Family homes and 33.3 percent for Condominium homes.

Financial markets were volatile in the days surrounding the presidential election, but they self-corrected and reached new heights soon after. Long-term indicators of what it will be like to have a real estate developer for a president remain fuzzy, but the outcome is not likely to be dull. Prior to the election, trend shift was hard to come by, and unemployment rates have not budged since August 2015. Post-election, mortgage rates are up and so are opinions that a trend shift is likely in the near future.

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of December 16, 2016. All data from MLS Property Information Network, Inc. Provided by the Greater Boston Association of REALTORS® and the Massachusetts Association of REALTORS®. Report © 2016 ShowingTime.

Single-Family Home Market Overview

+ 12.6% + 16.8% + 7.2%

This is a research tool provided by the Greater Boston Association of REALTORS®. Percent changes are calculated using rounded figures.

Condominium Market Overview

Year-Over-Year (YoY) Change in Closed Sales

All Properties


Single-Family Only


Condominium Only

Closed Sales

Pending SalesNew ListingsCity of Boston OverviewRegional Map

Median Sales PriceHousing Affordability IndexInventory of Homes for SaleMonths Supply of InventoryDays on Market Until SalePercent of Original List Price Received

Single-Family Home Market Overview

Historical Sparkbars 11-2015 11-2016 PercentChange YTD 2015 YTD 2016 Percent

Change

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

Closed Sales 1,007 1,176 + 16.8%

Key Metrics

12,936 + 2.8%

Median Sales Price $517,000 $524,500 + 1.5% $518,000 $540,000 + 4.2%

12,581

0.0%

Inventory of Homes for Sale 3,145 2,190 - 30.4% -- -- --

Housing Affordability Index 82 85 + 3.7% 82 82

--

Days on Market Until Sale 61 51 - 16.4% 62 59 - 4.8%

Months Supply of Inventory 2.8 1.9 - 32.1% -- --

Current as of December 16, 2016. All data from MLS Property Information Network, Inc. Provided by the Greater Boston Association of REALTORS® and the Massachusetts Association of REALTORS®. Report © 2016 ShowingTime. | 2

+ 0.3%

Pending Sales 950 998 + 5.1% 13,360 13,559 + 1.5%

Pct. of Orig. List Price Received 97.4% 98.2% + 0.8% 98.1% 98.4%

New Listings - 3.1%877 842 - 4.0% 17,563 17,027

Nov 2014 May 2015 Nov 2015 May 2016 Nov 2016









Condominium Market Overview


Change


+ 3.9%Pending Sales 722 790 + 9.4% 10,382 10,791

New Listings 760 740 - 2.6% 12,963 12,982

100.4% + 0.2%

46- 28.6% 49

+ 0.1%

Pct. of Orig. List Price Received 99.3% 99.7% + 0.4% 100.2%

- 6.1%

- 27.4% -- --

Months Supply of Inventory 2.1 1.4 - 33.3% --

--

-- --

+ 10.2% $450,000 $490,000 + 8.9%

89 - 5.3% 94 90 - 4.3%

+ 7.2%

Key Metrics

10,228 + 5.1%9,729

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

Closed Sales 775 831

Median Sales Price $450,455 $496,500

Inventory of Homes for Sale 1,815 1,318

Days on Market Until Sale 56 40

Housing Affordability Index 94










Closed Sales

Closed Sales Single-FamilyYear-Over-Year

Change CondominiumYear-Over-Year

Change

Dec-2015 1,250 +11.2% 912 +8.1%

Jan-2016 843 +17.7% 604 +24.5%

Feb-2016 589 +10.9% 473 +4.6%

Mar-2016 779 +13.9% 756 +30.6%

Apr-2016 929 +21.9% 828 +20.0%

May-2016 1,249 +17.8% 1,121 +17.0%

Jun-2016 1,936 +3.5% 1,412 +1.7%

Jul-2016 1,604 -15.7% 1,159 -15.8%

Aug-2016 1,716 +0.4% 1,215 -2.9%

Sep-2016 1,155 -5.2% 1,005 +6.7%

Oct-2016 960 -14.3% 824 -0.8%

Nov-2016 1,176 +16.8% 831 +7.2%

12-Month Avg 1,182 +3.5% 928 +5.4%

Historical Closed Sales by Month


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

938

664

1,007

775

1,176

831

Single-Family Condominium

November

0

500

1,000

1,500

2,000

2,500

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


11,825

9,788

12,581

9,729

12,936

10,228


Year to Date

2014 2015 2016

+ 7.2%+ 16.7%+ 16.8%+ 7.4% - 0.6%+ 2.8%+ 6.4% + 5.1%

2014 2015 2016 2014 2015 2016 2014 2015 2016

- 4.3% - 6.6% - 4.4%- 13.3%

Median Sales Price

Median Sales Price Single-FamilyYear-Over-Year


Change

Dec-2015 $500,001 +5.3% $443,750 +5.2%

Jan-2016 $490,000 +1.0% $443,250 -1.3%

Feb-2016 $517,500 +10.1% $449,000 +7.0%

Mar-2016 $472,500 +0.6% $478,750 +5.2%

Apr-2016 $530,000 +3.5% $480,228 +10.1%

May-2016 $530,250 +2.0% $482,500 +4.0%

Jun-2016 $585,000 +4.5% $505,000 +9.8%

Jul-2016 $575,000 +4.5% $495,000 +7.6%

Aug-2016 $575,000 +8.7% $499,900 +9.6%

Sep-2016 $508,000 +3.3% $510,000 +19.9%

Oct-2016 $525,000 +10.5% $480,000 +5.5%

Nov-2016 $524,500 +1.5% $496,500 +10.2%

12-Month Avg* $527,729 +3.9% $480,323 +7.8%

Historical Median Sales Price by Month

Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

* Median Sales Price for all properties from December 2015 through November 2016. This is not the average of the individual figures above.


$486,000

$420,000

$517,000

$450,455

$524,500$496,500


November

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


$495,000

$414,750

$518,000

$450,000

$540,000

$490,000


Year to Date

2014 2015 2016

+ 10.2%+ 7.3%+ 1.5%+ 6.4% + 8.5%+ 4.2%+ 4.6% + 8.9%

2014 2015 2016 2014 2015 2016 2014 2015 2016

+ 9.1% + 7.6% + 6.3%+ 6.3%

Housing Affordability Index

Affordability Index Single-FamilyYear-Over-Year


Change

Dec-2015 85 -2.3% 96 -1.0%

Jan-2016 86 -3.4% 95 -2.1%

Feb-2016 85 -7.6% 97 -6.7%

Mar-2016 92 +1.1% 91 -3.2%

Apr-2016 82 -3.5% 91 -8.1%

May-2016 82 -2.4% 90 -4.3%

Jun-2016 76 0.0% 88 -5.4%

Jul-2016 77 +1.3% 89 -2.2%

Aug-2016 77 -3.8% 89 -4.3%

Sep-2016 87 0.0% 87 -13.9%

Oct-2016 84 -6.7% 92 -2.1%

Nov-2016 85 +3.7% 89 -5.3%

12-Month Avg 83 -2.3% 91 -5.1%

Historical Housing Affordability Index by Month

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


84

97

82

9485

89


November

40

60

80

100

120

140

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


82

98

82

94

8290


Year to Date

2014 2015 2016

- 5.3%- 3.1%+ 3.7%- 2.4% - 4.1%0.0%0.0% - 4.3%

2014 2015 2016 2014 2015 2016 2014 2015 2016

- 9.7% - 8.9% - 7.5%- 6.7%

Inventory of Homes for Sale

Homes for Sale Single-FamilyYear-Over-Year


Change

Dec-2015 2,390 -0.3% 1,387 +11.1%

Jan-2016 2,329 +2.9% 1,384 +8.7%

Feb-2016 2,352 +14.5% 1,378 +13.0%

Mar-2016 2,860 +26.9% 1,639 +19.8%

Apr-2016 3,192 +6.7% 1,674 -2.7%

May-2016 3,228 -8.8% 1,664 -14.1%

Jun-2016 3,357 -9.3% 1,692 -12.5%

Jul-2016 3,179 -14.4% 1,695 -10.5%

Aug-2016 2,867 -20.3% 1,527 -15.7%

Sep-2016 3,208 -18.0% 1,837 -12.9%

Oct-2016 2,886 -23.3% 1,697 -17.2%

Nov-2016 2,190 -30.4% 1,318 -27.4%

12-Month Avg 2,837 -8.8% 1,574 -7.3%

Historical Inventory of Homes for Sale by Month

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


3,056

1,613

3,145

1,8152,190

1,318


November

0

2,000

4,000

6,000

8,000

10,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


2014 2015 2016

- 27.4%+ 12.5%- 30.4%+ 2.9%2014 2015 2016

+ 4.9% - 10.6%

Months Supply of Inventory

Months Supply Single-FamilyYear-Over-Year


Change

Dec-2015 2.1 -4.5% 1.6 +14.3%

Jan-2016 2.0 -4.8% 1.5 +7.1%

Feb-2016 2.0 +5.3% 1.5 +7.1%

Mar-2016 2.4 +14.3% 1.8 +12.5%

Apr-2016 2.7 -3.6% 1.8 -10.0%

May-2016 2.7 -18.2% 1.8 -21.7%

Jun-2016 2.8 -17.6% 1.8 -21.7%

Jul-2016 2.7 -20.6% 1.8 -18.2%

Aug-2016 2.4 -25.0% 1.7 -19.0%

Sep-2016 2.7 -22.9% 2.0 -16.7%

Oct-2016 2.5 -24.2% 1.8 -25.0%

Nov-2016 1.9 -32.1% 1.4 -33.3%

12-Month Avg* 2.4 -15.1% 1.7 -12.5%

Historical Months Supply of Inventory by Month

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

* Months Supply for all properties from December 2015 through November 2016. This is not the average of the individual figures above.


2.8

1.8

2.8

2.11.9

1.4


November

0.0

2.0

4.0

6.0

8.0

10.0

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


2014 2015 2016

- 33.3%+ 16.7%- 32.1%0.0%2014 2015 2016

+ 7.7% - 10.0%

Days on Market Until Sale

Days on Market Single-FamilyYear-Over-Year


Change

Dec-2015 70 +1.4% 52 -5.5%

Jan-2016 74 -11.9% 58 -1.7%

Feb-2016 91 -3.2% 64 -13.5%

Mar-2016 80 -13.0% 60 -9.1%

Apr-2016 70 -10.3% 48 -18.6%

May-2016 58 -1.7% 46 +2.2%

Jun-2016 49 -5.8% 41 +5.1%

Jul-2016 51 +4.1% 41 +2.5%

Aug-2016 56 +3.7% 41 -8.9%

Sep-2016 52 -8.8% 41 -18.0%

Oct-2016 56 -12.5% 40 -20.0%

Nov-2016 51 -16.4% 40 -28.6%

12-Month Avg* 63 -4.2% 48 -7.4%

Historical Days on Market Until Sale by Month

Average number of days between when a property is listed and when an offer is accepted in a given month.

* Days on Market for all properties from December 2015 through November 2016. This is not the average of the individual figures above.


66

53

6156

51

40


November

20

40

60

80

100

120

140

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


59

53

62

49

59

46


Year to Date

2014 2015 2016

- 28.6%+ 5.7%- 16.4%- 7.6% - 7.5%- 4.8%+ 5.1% - 6.1%

2014 2015 2016 2014 2015 2016 2014 2015 2016

+ 11.9% - 3.3% + 1.9%+ 6.0%

Percent of Original List Price Received

Pct. of Orig. List Price Received Single-Family

Year-Over-YearChange Condominium

Year-Over-YearChange

Dec-2015 96.1% +0.5% 98.3% +0.4%

Jan-2016 95.8% -0.1% 97.9% +0.1%

Feb-2016 95.7% +0.5% 98.1% -0.1%

Mar-2016 97.7% +1.2% 99.7% +1.0%

Apr-2016 98.4% +1.0% 101.1% +0.5%

May-2016 99.3% +0.2% 101.4% +0.5%

Jun-2016 99.8% +0.1% 101.7% +0.1%

Jul-2016 99.6% +0.1% 101.5% +0.4%

Aug-2016 98.6% +0.1% 100.8% +0.2%

Sep-2016 97.9% +0.2% 100.0% +0.5%

Oct-2016 98.0% +1.3% 99.7% 0.0%

Nov-2016 98.2% +0.8% 99.7% +0.4%

12-Month Avg* 97.9% +0.4% 100.0% +0.3%

Historical Percent of Original List Price Received by Month

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

* Pct. of Orig. List Price Received for all properties from December 2015 through November 2016. This is not the average of the individual figures above.


96.6% 98.1%97.4% 99.3%98.2% 99.7%


November

87.5%

90.0%

92.5%

95.0%

97.5%

100.0%

102.5%

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


97.8% 99.4%98.1% 100.2%98.4% 100.4%


Year to Date

2014 2015 2016

+ 0.4%+ 1.2%+ 0.8%+ 0.8% + 0.8%+ 0.3%+ 0.3% + 0.2%

2014 2015 2016 2014 2015 2016 2014 2015 2016

+ 0.2% + 0.7% + 0.6%- 0.7%

Pending Sales

Pending Sales Single-FamilyYear-Over-Year


Change

Dec-2015 659 +11.9% 519 +12.1%

Jan-2016 683 -3.1% 648 +18.2%

Feb-2016 884 +39.9% 823 +45.1%

Mar-2016 1,431 +29.5% 1,129 +13.4%

Apr-2016 1,587 +2.7% 1,301 +2.1%

May-2016 1,769 +0.5% 1,298 +0.1%

Jun-2016 1,611 -9.8% 1,194 -13.9%

Jul-2016 1,142 -10.9% 873 -9.4%

Aug-2016 1,117 -0.4% 882 +8.4%

Sep-2016 1,171 -3.5% 915 +6.4%

Oct-2016 1,166 -7.3% 938 -1.7%

Nov-2016 998 +5.1% 790 +9.4%

12-Month Avg 1,185 +1.9% 943 +4.3%

Historical Pending Sales by Month

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).


895

655

950

722

998

790


November

250

500

750

1,000

1,250

1,500

1,750

2,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


12,446

10,095

13,360

10,382

13,559

10,791


Year to Date

2014 2015 2016

+ 9.4%+ 10.2%+ 5.1%+ 6.1% + 2.8%+ 1.5%+ 7.3% + 3.9%

2014 2015 2016 2014 2015 2016 2014 2015 2016

+ 5.8% - 5.7% - 6.0%- 4.9%

New Listings

New Listings Single-FamilyYear-Over-Year


Change

Dec-2015 553 +10.4% 462 +15.8%

Jan-2016 903 +7.4% 805 +13.5%

Feb-2016 1,126 +76.8% 938 +50.6%

Mar-2016 2,168 +45.1% 1,545 +22.2%

Apr-2016 2,123 -14.1% 1,471 -15.1%

May-2016 2,071 -18.2% 1,438 -13.5%

Jun-2016 2,116 -6.8% 1,439 -8.2%

Jul-2016 1,318 -19.1% 1,108 -0.8%

Aug-2016 1,203 -9.6% 954 +1.9%

Sep-2016 1,885 -3.5% 1,479 +2.7%

Oct-2016 1,272 -16.6% 1,065 -7.6%

Nov-2016 842 -4.0% 740 -2.6%

12-Month Avg 1,465 -2.7% 1,120 +0.6%

Historical New Listings by Month

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


743

603

877

760842

740


November

0

1,000

2,000

3,000

4,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016


16,873

12,378

17,563

12,963

17,027

12,982


Year to Date

2014 2015 2016

- 2.6%+ 26.0%- 4.0%+ 18.0% + 4.7%- 3.1%+ 4.1% + 0.1%

2014 2015 2016 2014 2015 2016 2014 2015 2016

- 8.9% - 0.3% - 6.0%- 3.1%

City of Boston - Market Overview


Change


- 0.1%

6,522 - 0.7%

5,205

New Listings 392 419 + 6.9% 6,571

Pending Sales 381 411 + 7.9% 5,208

- 2.1%

Pct. of Orig. List Price Received 99.9% 99.2% - 0.7% 99.8% 99.8% 0.0%

Days on Market Until Sale 51 41 - 19.6% 47 46

-- --

Inventory of Homes for Sale 938 755 - 19.5% --

Months Supply of Inventory 2.1 1.7 - 19.0% --

86 - 5.5%

----

Housing Affordability Index 84 90 + 7.1% 91

4,898 + 0.8%

Median Sales Price $555,000 $540,000 - 2.7% $516,000 $564,250 + 9.4%

4,859

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

Closed Sales 403 395 - 2.0%

Key Metrics










Regional Map

Central Middlesex Region Metro West RegionActon AshlandBedford DoverBoxboro FraminghamConcord HollistonHudson HopkintonLexington MedfieldLincoln MedwayMaynard MillisStow NatickSudbury NeedhamWayland SherbornWeston Wellesley

Eastern Middlesex Region Southern Norfolk RegionBurlington AvonMalden BellinghamMedford CantonMelrose FoxboroNorth Reading FranklinReading MansfieldStoneham NorfolkWakefield NorwoodWilmington RandolphWinchester SharonWoburn Stoughton

WalpoleMetro Boston Region WestwoodArlington WrenthamBelmontBostonBrooklineCambridgeChelseaDedhamEverettMiltonNewtonRevereSomervilleWalthamWatertownWinthrop


A map of the the 64 areas and 5 regions that make up "Greater Boston."

Greater Boston Association of REALTORS® Regional Map

Communities by Region

gbar monthly housing market data november 2016

Real Estate