Market Insights Report
Detached Single-Family Homes
The 830 homes sold in January is the second highest total for the month, despite the 1.5 percent drop in sales compared to the record-high 843 from January 2016. Additionally, this is well above the January historical average of 693 homes sold, and is the second consecutive month that sales have dropped slightly on a monthly basis. With the 6.1 percent increase in median sales price last month, this is the 39th consecutive month that this figure has increased or stayed the same on a monthly basis.
With 610 condos sold last month, it was the fourth-most active January in history in the Greater Boston region. This was a 1 percent gain from January 2016 condo sales and is the second consecutive month that condo sales have softened slightly. Additionally, this total was comfortably above the monthly average of 530 sold condos. On an annual basis, the median sales prices for condos rose to $500,000 last month, which is the 12th consecutive month that the median sales price has risen on monthly basis in Greater Boston.
In January of 2017 there were 179 multi-family homes sold in Greater Boston, which is the highest amount on record for the month. This is also a return to positive, albeit nearly even, sales numbers as December’s multi-family sales were down 7.5 percent. Among multi-family homes, the two-family homes saw the most activity last month, as 119 units were sold. Additionally, two, three and five or more-family homes saw increases in median sales price, as four-family homes declined 14.2 percent.