february 2013's monthly indicators report - boston real estate market trends
Post on 09-May-2015
381 Views
Preview:
DESCRIPTION
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.
+ 10.7%Year-Over-Year(YoY) Change inClosed Sales
Condominium Only
+ 0.7%Year-Over-Year(YoY) Change inClosed SalesAll Properties
23456789
10111213
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 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.
Key Metrics Historical Sparklines Feb-2012 Feb-2013 + / – YTD 2012 YTD 2013 + / –
1,033 + 4.7%Closed Sales 464 429 - 7.5% 987
$430,000 + 7.0%
124 122
4,040 2,592
$429,900 + 8.8% $402,000
Housing Affordability Index
Inventory of Homes for Sale
$395,000Median Sales Price
- 35.8% -- --
- 2.0% 122 122 - 0.6%
--
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
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.
Key Metrics Historical Sparklines Feb-2012 Feb-2013 + / – YTD 2012 YTD 2013 + / –
+ 6.1%
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
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
+10.7%+12.3%+32.2%
Single-Family Condominium+17.6%+7.3%+21.7%-7.5% +4.7%
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
Single-Family Condominium
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013
Historical Median Sales Price Single-Family Condominium
-5.2%+6.2%+3.9%
Single-Family Condominium0.0%+2.9%-1.7%+8.8% +7.0%
Housing Affordability Index
Single-FamilyYoY
ChangeCondominium
YoYChange
Mar-2012 117 + 15.8% 141 + 9.5%
Apr-2012 118 + 18.1% 132 + 10.2%
May-2012 109 + 13.2% 131 + 10.1%
Jun-2012 102 + 14.4% 126 + 7.4%
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 + 7.8%
Nov-2012 117 + 6.8% 135 + 4.4%
Dec-2012 113 + 6.8% 136 + 3.3%
Jan-2013 125 + 3.7% 143 + 5.4%
Feb-2013 122 - 2.0% 146 + 11.0%
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.
111120124
132122
146
February
104
119122
135
122
143
Year to Date
20132012 20132012 20132012 201320122011 2011 2011 2011
Average 114 +10.4% 136 +8.2%
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 | 6
Single-Family Condominium
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
+11.0%+10.0%+12.2%
Single-Family Condominium+6.1%+13.0%+17.9%-2.0% -0.6%
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
Single-Family Condominium
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013
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
Single-Family Condominium
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
-46.9%-25.8%-19.3% -30.6%
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
Mar-2012 130 - 3.1% 117 - 4.6%
Apr-2012 120 - 1.7% 98 - 16.8%
May-2012 96 - 5.9% 86 - 11.9%
Jun-2012 90 - 0.2% 75 - 20.4%
Jul-2012 80 - 3.9% 71 - 20.6%
Aug-2012 87 - 5.8% 76 - 18.2%
Sep-2012 89 - 12.0% 85 - 18.1%
Oct-2012 90 - 17.6% 84 - 11.4%
Nov-2012 89 - 18.0% 77 - 30.0%
Dec-2012 97 - 12.4% 84 - 30.1%
Jan-2013 109 - 16.5% 88 - 29.2%
Feb-2013 109 - 18.6% 93 - 24.6%
129137134
123
109
93
February
120134132
124
109
90
Year to Date
20132012 20132012 20132012 201320122011 2011 2011 2011
Total 96 - 9.3% 78 - 18.2%
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 | 9
Single-Family Condominium
40
60
80
100
120
140
160
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013
Historical Days on Market Until Sale Single-Family Condominium
-24.6%-9.8%+3.7%
Single-Family Condominium-27.1%-7.1%+9.7%-18.6% -17.5%
Percent of Original List Price Received
Single-FamilyYoY
ChangeCondominium
YoYChange
Mar-2012 93.0% + 0.7% 94.0% + 0.9%
Apr-2012 93.5% + 0.8% 95.7% + 2.0%
May-2012 95.4% + 1.1% 96.1% + 1.0%
Jun-2012 95.3% + 0.8% 96.4% + 1.8%
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% + 2.5%
Nov-2012 94.6% + 2.3% 96.2% + 2.5%
Dec-2012 94.2% + 2.2% 96.2% + 3.4%
Jan-2013 93.8% + 3.6% 96.0% + 3.3%
Feb-2013 94.1% + 3.2% 96.8% + 3.6%
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.
90.9% 92.0%91.2% 93.4%94.1% 96.8%
February
90.9% 92.2%90.8% 93.2%93.9% 96.3%
Year to Date
20132012 20132012 20132012 201320122011 2011 2011 2011
Average 94.7% + 1.7% 96.1% + 2.2%
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 | 10
Single-Family Condominium
89%
90%
91%
92%
93%
94%
95%
96%
97%
98%
99%
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013
Historical Percent of Original List Price Received Single-Family Condominium
+3.6%+1.5%+0.3%
Single-Family Condominium+3.4%+1.1%-0.1%+3.2% +3.4%
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
Mar-2012 982 + 25.1% 1,009 + 32.2%
Apr-2012 1,142 + 21.7% 1,047 + 24.6%
May-2012 1,326 + 23.1% 1,266 + 28.9%
Jun-2012 1,255 + 13.3% 1,039 + 19.3%
Jul-2012 1,044 + 26.2% 831 + 9.1%
Aug-2012 895 + 17.0% 815 + 22.2%
Sep-2012 840 + 27.7% 717 + 38.4%
Oct-2012 869 + 17.8% 820 + 38.7%
Nov-2012 787 + 16.6% 664 + 18.1%
Dec-2012 596 + 5.9% 503 + 7.5%
Jan-2013 586 + 8.5% 619 + 28.2%
Feb-2013 683 + 6.9% 644 + 1.4%
523 511
639 635683
644
February
946 918
1,1791,118
1,269 1,263
Year to Date
20132012 20132012 20132012 201320122011 2011 2011 2011
Total 11,005 + 18.2% 9,974 + 22.5%
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
Single-Family Condominium
200
400
600
800
1,000
1,200
1,400
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013
Historical Pending Sales Activity Single-Family Condominium
+1.4%+24.3%+22.2%
Single-Family Condominium+13.0%+21.8%+24.6%+6.9% +7.6%
New Listings A count of the properties that have been newly listed on the market in a given month.
Single-FamilyYoY
ChangeCondominium
YoYChange
Mar-2012 2,008 + 3.3% 1,741 - 11.7%
Apr-2012 1,798 - 8.8% 1,499 - 13.0%
May-2012 1,783 - 4.6% 1,387 - 7.6%
Jun-2012 1,352 - 15.3% 1,152 - 14.2%
Jul-2012 1,022 - 12.5% 902 - 7.6%
Aug-2012 1,001 - 8.7% 790 - 7.5%
Sep-2012 1,419 - 10.2% 1,153 - 9.6%
Oct-2012 1,078 - 4.6% 881 - 2.1%
Nov-2012 650 - 3.1% 561 - 10.4%
Dec-2012 364 - 19.5% 317 - 18.3%
Jan-2013 903 - 6.2% 914 - 4.2%
Feb-2013 1,026 - 22.2% 964 - 15.5%
879
1,081
1,319
1,1411,026
964
February
1,716
2,055
2,2822,095
1,929 1,878
Year to Date
20132012 20132012 20132012 201320122011 2011 2011 2011
Total 14,404 - 8.6% 12,261 - 10.2%
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 | 12
Single-Family Condominium
0
250
500
750
1,000
1,250
1,500
1,750
2,000
2,250
2,500
2,750
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013
Historical New Listing Activity Single-Family Condominium
-15.5%+5.6%+50.1%
Single-Family Condominium-10.4%+1.9%+33.0%-22.2% -15.5%
City of Boston – Market Overview Key market metrics for the current month and year-to-date figures for the City of Boston.
Key Metrics Historical Sparklines Feb-2012 Feb-2013 + / – YTD 2012 YTD 2013 + / –
- 0.6%
Inventory of Homes for Sale 1,725 949 - 45.0% -- -- --
Housing Affordability Index 124 122 - 2.0% 122 122
+ 10.4%
Median Sales Price $399,000 $385,000 - 3.5% $386,500 $406,750 + 5.2%
Closed Sales 203 221 + 8.9% 444 490
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
- 13.4%
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 | 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%
Months Supply of Inventory 8.5 4.3 - 49.5% -- --
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
top related