market data, december 2012

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

December 2012 Quick Facts

23456789

10111213

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of January 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.

+ 11.8%Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

It was largely a year of recovery for housing across our nation. Markets resolved to shed their excess weight, appeal to both existing homeowners and renters alike, and learn to play nicer with banks. Hey, three for three isn't too bad. But there's more work to be done. Here's how the final month of 2012 finished up.

New Listings in the Greater Boston region were down 20.0 percent for detached homes and 19.3 percent for condominiums. Closed Sales increased 11.8 percent for detached homes and 17.5 percent for condominiums.

The Median Sales Price was up 6.8 percent to $470,000 for single-family properties and 10.3 percent to $380,000 for condominiums. Months Supply of Inventory decreased 44.0 percent for single-family units and 52.7 percent for townhouse-condo units.

Economic growth is on an upward trend and several prominent housing indices continue to showcase market turnaround. Momentum is on our side, though it won't necessarily be fast, consistent or universal. But after five or six challenging years, it's a welcomed change of pace. Plenty of opportunity lies ahead. Here's to a healthy and prosperous year!

+ 17.5%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

+ 14.5%Year-Over-Year(YoY) Change inClosed SalesAll Properties

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 Dec-2011 Dec-2012 + / – YTD 2011 YTD 2012 + / –

93.1% 94.4%

- 5.9%

+ 1.4%Percent of OriginalList Price Received

Days on Market Until Sale

92.1%

- 12.8%

+ 2.3%

98

94.2%

Pending Sales

Median Sales Price

+ 20.9%11,101570 624 + 9.5% 9,181

- 37.4% -- --

+ 3.5% 102 110 + 8.0%

--


Inventory of Homes for Sale

Months Supply of Inventory 4.9

$440,000 + 1.7%

112

104 108

98

-- -- --

3,669 2,296

2.8 - 44.0%

$470,000 + 6.8% $450,000

104

10,886 + 20.0%

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 | 2

New Listings 459 367 - 20.0% 15,386 14,926 - 3.0%

Closed Sales 745 833 + 11.8% 9,069

$457,500

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

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


+ 21.9%

Median Sales Price $344,500 $380,000 + 10.3% $359,011 $379,000 + 5.6%

Closed Sales 645 758 + 17.5% 7,941 9,680

+ 4.4%

Inventory of Homes for Sale 2,819 1,568 - 44.4% -- -- --

Housing Affordability Index 130 131 + 0.6% 125 131

--

Days on Market Until Sale 120 84 - 30.4% 105 87 - 17.8%

Months Supply of Inventory 4.4 2.1 - 52.7% -- --

+ 2.0%

Pending Sales 471 515 + 9.3% 7,967 9,882 + 24.0%

Percent of OriginalList Price Received

93.0% 96.2% + 3.4% 94.0% 95.8%

- 8.3%


New Listings 389 314 - 19.3% 13,649 12,511

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Jan-2012 526 + 12.6% 414 + 3.0%

Feb-2012 474 + 33.5% 385 + 12.2%

Mar-2012 657 + 16.5% 608 + 10.9%

Apr-2012 752 + 12.1% 759 + 19.7%

May-2012 1,017 + 20.4% 1,013 + 32.1%

Jun-2012 1,529 + 21.4% 1,270 + 20.2%

Jul-2012 1,293 + 25.4% 1,041 + 21.8%

Aug-2012 1,316 + 26.7% 1,206 + 24.7%

Sep-2012 773 - 1.4% 754 + 16.4%

Oct-2012 798 + 28.9% 712 + 38.8%

Nov-2012 918 + 33.0% 760 + 35.2%

Dec-2012 833 + 11.8% 758 + 17.5%

Total 10,886 + 20.0% 9,680 + 21.9%


736

655

745

645

833 758

Single-Family Condominium

December

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

Historical Closed Sales Activity Single-Family Condominium

+17.5% -1.5% +1.2%

2012 2011 2012 2011

9,149 8,306

9,069

7,941

10,886

9,680


Year to Date

+21.9% -4.4% -0.9%

2012 2011 2012 2011

+11.8% +20.0%

2010 2010 2010 2010

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Jan-2012 $405,000 - 9.0% $350,000 - 1.7%

Feb-2012 $391,875 + 3.4% $371,000 + 6.6%

Mar-2012 $411,000 - 1.3% $340,000 + 4.8%

Apr-2012 $414,850 - 3.3% $370,750 + 5.0%

May-2012 $465,000 + 1.3% $381,000 + 4.4%

Jun-2012 $500,000 - 0.2% $400,000 + 6.7%

Jul-2012 $510,000 + 2.2% $387,000 + 6.3%

Aug-2012 $489,450 - 1.9% $380,000 + 3.5%

Sep-2012 $430,000 - 4.3% $375,000 + 2.0%

Oct-2012 $429,000 + 10.0% $365,883 + 4.8%

Nov-2012 $445,550 + 5.3% $380,000 + 8.4%

Dec-2012 $470,000 + 6.8% $380,000 + 10.3%

Median $457,500 + 1.7% $379,000 + 5.6%


$435,000

$355,000

$440,000

$344,500

$470,000

$380,000


December

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


Historical Median Sales Price Single-Family Condominium

+10.3% -3.0% +1.1%

2012 2011 2012 2011

$450,000

$349,900

$450,000

$359,011

$457,500

$379,000


Year to Date

+5.6% +2.6% 0.0%

2012 2011 2012 2011

+6.8% +1.7%

2010 2010 2010 2010


Single-FamilyYoY

ChangeCondominium

YoYChange

Jan-2012 113 + 17.4% 129 + 9.3%

Feb-2012 119 + 7.9% 125 + 4.9%

Mar-2012 114 + 11.5% 135 + 5.6%

Apr-2012 112 + 13.1% 124 + 4.8%

May-2012 102 + 7.2% 122 + 4.2%

Jun-2012 97 + 8.5% 118 + 1.9%

Jul-2012 96 + 7.9% 124 + 3.9%

Aug-2012 100 + 11.0% 127 + 5.5%

Sep-2012 116 + 15.2% 131 + 8.5%

Oct-2012 115 - 0.4% 133 + 4.1%

Nov-2012 112 + 4.1% 129 + 1.4%

Dec-2012 108 + 3.5% 131 + 0.6%

Average 109 +8.9% 127 +4.6%

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.


98

118

104

130

108

131


December

60

70

80

90

100

110

120

130

140

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

Historical Housing Affordability Index Single-Family Condominium

+0.6% +9.9% +5.9%

95

120

102

125

110

131


Year to Date

+4.4% +4.8% +7.0%

2012 2011 2012 2011 2012 2011 2012 2011

+3.5% +8.0%

2010 2010 2010 2010

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

Jan-2012 3,708 - 2.4% 2,979 - 19.1%

Feb-2012 4,100 + 6.7% 3,270 - 16.5%

Mar-2012 4,726 + 2.1% 3,700 - 21.1%

Apr-2012 5,074 - 4.7% 3,854 - 25.7%

May-2012 5,178 - 9.7% 3,666 - 29.8%

Jun-2012 4,857 - 15.3% 3,395 - 33.4%

Jul-2012 4,423 - 21.0% 3,128 - 33.7%

Aug-2012 4,049 - 24.7% 2,716 - 35.6%

Sep-2012 4,244 - 24.8% 2,831 - 34.6%

Oct-2012 3,910 - 27.9% 2,585 - 37.0%

Nov-2012 3,218 - 30.2% 2,155 - 40.1%

Dec-2012 2,296 - 37.4% 1,568 - 44.4%

Average 4,149 - 16.2% 2,987 - 30.5%


3,769 3,546 3,669

2,819

2,296

1,568


December

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

-44.4% -20.5% -2.7%

2012 2011 2012 2011

-37.4%

2010 2010

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

Jan-2012 7.0 - 13.4% 7.2 - 21.4%

Feb-2012 8.6 - 20.1% 8.5 - 25.6%

Mar-2012 7.2 - 12.4% 6.1 - 28.9%

Apr-2012 6.7 - 14.9% 5.1 - 37.9%

May-2012 5.1 - 25.0% 3.6 - 46.9%

Jun-2012 3.2 - 30.2% 2.7 - 44.6%

Jul-2012 3.4 - 37.0% 3.0 - 45.5%

Aug-2012 3.1 - 40.5% 2.3 - 48.4%

Sep-2012 5.5 - 23.8% 3.8 - 43.8%

Oct-2012 4.9 - 44.1% 3.6 - 54.6%

Nov-2012 3.5 - 47.5% 2.8 - 55.7%

Dec-2012 2.8 - 44.0% 2.1 - 52.7%

Average 5.0 - 24.2% 4.2 - 36.5%


5.1 5.4

4.9

4.4

2.8

2.1


December

2

4

6

8

10

12

14

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

Historical Months Supply of Inventory Single-Family Condominium

-52.7% -19.3% -3.8%

2012 2011 2012 2011

-44.0%

2010 2010

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

Jan-2012 130 + 15.0% 124 - 5.0%

Feb-2012 134 + 2.9% 123 - 9.8%

Mar-2012 131 - 3.1% 118 - 4.2%

Apr-2012 120 - 1.4% 98 - 16.9%

May-2012 96 - 6.4% 86 - 12.0%

Jun-2012 90 - 0.1% 75 - 19.5%

Jul-2012 81 - 4.5% 71 - 20.6%

Aug-2012 88 - 5.4% 76 - 18.3%

Sep-2012 89 - 12.1% 85 - 18.0%

Oct-2012 91 - 16.4% 84 - 11.6%

Nov-2012 90 - 17.7% 76 - 30.5%

Dec-2012 98 - 12.8% 84 - 30.4%

Total 98 - 5.9% 80 - 16.2%


113 107

112 120

98

84


December

40

60

80

100

120

140

160


Historical Days on Market Until Sale Single-Family Condominium

-30.4% +11.8% -0.3%

95 102 104 105

98

87


Year to Date

-17.8% +3.3% +9.6%

2012 2011 2012 2011 2012 2011 2012 2011

-12.8% -5.9%

2010 2010 2010 2010

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

Jan-2012 90.5% - 0.4% 92.8% + 0.5%

Feb-2012 91.2% + 0.3% 93.4% + 1.5%

Mar-2012 93.0% + 0.8% 94.0% + 0.9%

Apr-2012 93.5% + 0.9% 95.7% + 2.0%

May-2012 95.4% + 1.2% 96.1% + 1.0%

Jun-2012 95.3% + 0.8% 96.3% + 1.7%

Jul-2012 95.7% + 1.5% 96.6% + 1.7%

Aug-2012 94.8% + 1.5% 96.2% + 2.2%

Sep-2012 94.5% + 1.5% 96.4% + 2.4%

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

Nov-2012 94.6% + 2.3% 96.2% + 2.5%

Dec-2012 94.2% + 2.3% 96.2% + 3.4%

Average 94.4% + 1.4% 95.8% + 2.0%


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.

91.3% 93.0% 92.1% 93.0% 94.2% 96.2%


December

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%


Historical Percent of Original List Price Received Single-Family Condominium

+3.4% +0.1% +1.0%

93.6% 94.4% 93.1% 94.0% 94.4% 95.8%


Year to Date

+2.0% -0.4% -0.6%

2012 2011 2012 2011 2012 2011 2012 2011

+2.3% +1.4%

2010 2010 2010 2010

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

Jan-2012 545 + 26.7% 484 + 18.6%

Feb-2012 652 + 23.3% 635 + 24.0%

Mar-2012 994 + 24.6% 1,012 + 32.3%

Apr-2012 1,153 + 21.8% 1,049 + 24.3%

May-2012 1,339 + 23.1% 1,268 + 28.9%

Jun-2012 1,269 + 13.4% 1,047 + 19.5%

Jul-2012 1,057 + 26.6% 835 + 9.4%

Aug-2012 912 + 18.0% 821 + 22.5%

Sep-2012 855 + 28.8% 720 + 39.0%

Oct-2012 896 + 20.4% 823 + 38.8%

Nov-2012 805 + 17.7% 673 + 19.5%

Dec-2012 624 + 9.5% 515 + 9.3%

Total 11,101 + 20.9% 9,882 + 24.0%


542

442

570

471

624

515


December

200

400

600

800

1,000

1,200

1,400


Historical Pending Sales Activity Single-Family Condominium

+9.3% +6.6% +5.2%

9,132 8,200

9,181

7,967

11,101

9,882


Year to Date

+24.0% -2.8% +0.5%

2012 2011 2012 2011 2012 2011 2012 2011

+9.5% +20.9%

2010 2010 2010 2010

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Jan-2012 975 + 14.4% 958 - 1.8%

Feb-2012 1,336 + 51.3% 1,145 + 5.8%

Mar-2012 2,023 + 3.1% 1,741 - 12.0%

Apr-2012 1,812 - 9.3% 1,504 - 13.1%

May-2012 1,810 - 4.1% 1,391 - 7.5%

Jun-2012 1,371 - 15.2% 1,155 - 14.1%

Jul-2012 1,036 - 13.1% 905 - 7.6%

Aug-2012 1,012 - 8.5% 792 - 7.4%

Sep-2012 1,440 - 9.4% 1,157 - 9.7%

Oct-2012 1,087 - 6.2% 883 - 2.1%

Nov-2012 657 - 3.7% 566 - 9.9%

Dec-2012 367 - 20.0% 314 - 19.3%

Total 14,926 - 3.0% 12,511 - 8.3%


433

489 459

389 367

314


December

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

-19.3% -20.4% +6.0%

15,859 15,937 15,386

13,649 14,926

12,511


Year to Date

-8.3% -14.4% -3.0%

2012 2011 2012 2011 2012 2011 2012 2011

-20.0% -3.0%

2010 2010 2010 2010

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


+ 23.6%

Median Sales Price $389,750 $400,000 + 2.6% $375,000 $400,000 + 6.7%

Closed Sales 366 422 + 15.3% 4,397 5,436

+ 8.0%

Inventory of Homes for Sale 1,464 700 - 52.2% -- -- --

Housing Affordability Index 104 108 + 3.5% 102 110

--

Days on Market Until Sale 114 76 - 33.3% 101 82 - 19.3%

Months Supply of Inventory 4.0 1.7 - 58.5% -- --

+ 2.0%

Pending Sales 286 268 - 6.3% 4,458 5,522 + 23.9%

Percent of OriginalList Price Received

93.4% 95.6% + 2.3% 93.8% 95.6%

- 9.3%


New Listings 251 157 - 37.5% 7,733 7,014

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

12-2009 12-2010 12-2011 12-2012

market data, december 2012

News & Politics

greater boston association

family condominium single

massachusetts association

family condominium1

date figures

10k research

seller concessions

cover page