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Nov 03, 2017 Michael DiMella

Fast Facts: Q3 Boston Real Estate Market Statistics

Each quarter, we look at some “fast facts” and various aspects of market statistics. For the 3rd quarter of 2017, here is a look at some info for Metro Boston, the Luxury market, and the City of Boston in its entirety. Download the comprehensive report here.

Metro Boston Fast Facts

  • Average sale prices increased by 1.4% year over year (3Q2017: $770K VS  3Q2016: $759K)
  • Condos are selling faster than same period last year, average days on the market during this quarter was 33 vs 38 during 3rd quarter in 2016.
  • Inventory remains low (936) as well as absorption(1.3 months)
  • Sales Closed 2.1% over its listing price.

Boston Luxury Market (Top 10% of the market)

  • Average sale price for this market decreased  by 11% (3Q2017: $2,731,649  Vs  3Q2016: $3,080,435)
  • On average, condos in this market sold 2.4% below the listing price.
  • Total volume of this market was $347 million.
  • Number of sales decreased by 4% year over year (3Q2017: 127 Vs 3Q2016: 132)

City of Boston

  • Average sale prices decreased by 5% year over year (3Q2017: $81K Vs 3Q2016: $861K)
  • Condos sold 12% faster than same quarter last year (3Q2017: 37 DOM Vs 3Q2016: 42 DOM)
  • Number of sales decreased by 1% year over year (3Q2017: 1300 Vs 3Q2016: 1289)
  • Condos in this area sold 1.2%  above its listing price
  • Most expensive neighborhoods to buy a condo this quarter were Midtown, Beacon Hill and Back Bay
  • Most affordable neighborhoods to buy a condo this quarter were Mattapan, Hyde Park and West Roxbury

Market Report CTA

Published by Michael DiMella November 3, 2017