April 2013's Monthly Indicators report - Boston Real Estate Market Trends

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

April 2013 Quick Facts

+ 4.0%Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.

+ 6.1%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

+ 5.1%Year-Over-Year(YoY) Change inClosed SalesAll Properties

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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 May 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 up 14.1 percent for detached homes and 12.9 percent for condominiums. Closed Sales increased 4.0 percent for detached homes and 6.1 percent for condominiums.

The Median Sales Price was up 13.5 percent to $475,000 for single-family properties and 4.7 percent to $389,000 for condominiums. Months Supply of Inventory decreased 39.9 percent for single-family units and 43.2 percent for townhouse-condo units.

The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.

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 Apr-2012 Apr-2013 + / – YTD 2012 YTD 2013 + / –

2,438 + 2.5%Closed Sales 743 773 + 4.0% 2,378

$440,000 + 7.3%

118 113

5,024 3,141

$475,000 + 13.5% $410,000


Inventory of Homes for Sale

$418,500Median Sales Price

- 37.5% -- --

- 4.7% 120 120 - 0.1%

--

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

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 1,798 2,052 + 14.1% 6,088 5,375 - 11.7%

120 104

-- -- --4.1 - 39.9%

128

Months Supply of Inventory 6.8

Pending Sales + 12.5%3,7151,142 1,433 + 25.5% 3,303

92.2% 95.1%

- 18.7%

+ 3.1%Percent of OriginalList Price Received

Days on Market Until Sale

93.5%

- 22.0%

+ 3.4%

94

96.7%

4 2010 4 2011 4 2012 4 2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

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


+ 1.2%

Inventory of Homes for Sale 3,848 2,317 - 39.8% -- -- --

Housing Affordability Index 132 135 + 2.6% 135 137

+ 10.2%

Median Sales Price $371,500 $389,000 + 4.7% $359,900 $383,000 + 6.4%

Closed Sales 758 804 + 6.1% 2,161 2,382

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

- 7.4%


New Listings 1,499 1,692 + 12.9% 5,335 4,941

+ 3.4%

Pending Sales 1,047 1,343 + 28.3% 3,171 3,623 + 14.3%

Percent of OriginalList Price Received

95.7% 98.8% + 3.3% 94.3% 97.5%

--

Days on Market Until Sale 98 63 - 35.3% 113 77 - 32.2%

Months Supply of Inventory 5.1 2.9 - 43.2% -- --

4 2010 4 2011 4 2012 4 2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

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

Single-FamilyYoY

ChangeCondominium

YoYChange

May-2012 1,005 + 20.5% 1,012 + 32.1%

Jun-2012 1,511 + 21.4% 1,264 + 20.3%

Jul-2012 1,279 + 25.3% 1,041 + 21.8%

Aug-2012 1,299 + 26.0% 1,204 + 25.3%

Sep-2012 766 - 1.2% 753 + 16.4%

Oct-2012 791 + 28.6% 712 + 39.1%

Nov-2012 907 + 32.4% 760 + 35.0%

Dec-2012 824 + 11.8% 769 + 19.6%

Jan-2013 605 + 15.7% 514 + 24.8%

Feb-2013 431 - 7.1% 435 + 13.3%

Mar-2013 629 - 2.9% 629 + 3.6%

Apr-2013 773 + 4.0% 804 + 6.1%

660 631

743 758773804

April

20132012 20132012

2,0271,922

2,3782,161

2,438 2,382

Year to Date

20132012 201320122011 2011 2011 2011

Total 10,820 + 16.1% 9,897 + 21.3%


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

+6.1%+20.1%+12.6%

Single-Family Condominium+10.2%+12.4%+17.3%+4.0% +2.5%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

May-2012 $465,000 + 1.4% $381,000 + 4.4%

Jun-2012 $502,500 - 0.5% $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% $368,133 + 5.6%

Nov-2012 $447,500 + 5.9% $380,000 + 8.2%

Dec-2012 $470,000 + 6.8% $381,000 + 10.4%

Jan-2013 $430,000 + 6.2% $375,000 + 5.6%

Feb-2013 $429,900 + 8.8% $350,000 - 5.4%

Mar-2013 $430,000 + 3.7% $405,500 + 19.3%

Apr-2013 $475,000 + 13.5% $389,000 + 4.7%

$431,000

$355,000

$418,500

$371,500

$475,000

$389,000

April

20132012 20132012

$420,000

$344,000

$410,000

$359,900

$440,000

$383,000

Year to Date

20132012 201320122011 2011 2011 2011

Median $467,000 + 3.9% $383,000 + 5.7%



$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


Historical Median Sales Price Single-Family Condominium

+4.7%+4.6%-2.9%

Single-Family Condominium+6.4%+4.6%-2.4%+13.5% +7.3%


Single-FamilyYoY

ChangeCondominium

YoYChange

May-2012 109 + 13.2% 131 + 10.1%

Jun-2012 102 + 14.6% 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 + 7.3%

Nov-2012 117 + 6.7% 135 + 4.6%

Dec-2012 113 + 6.8% 136 + 3.6%

Jan-2013 125 + 3.7% 141 + 4.2%

Feb-2013 122 - 2.0% 146 + 11.2%

Mar-2013 121 + 3.4% 128 - 8.9%

Apr-2013 113 - 4.7% 135 + 2.6%

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.

100

120118

132

113

135

April

102

123120

135

120

137

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Average 114 +7.5% 135 +5.9%



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

+2.6%+10.2%+18.1%

Single-Family Condominium+1.2%+10.2%+17.5%-4.7% -0.1%

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

May-2012 5,125 - 9.6% 3,662 - 29.7%

Jun-2012 4,808 - 15.0% 3,398 - 33.2%

Jul-2012 4,384 - 20.5% 3,137 - 33.3%

Aug-2012 4,039 - 23.7% 2,742 - 34.9%

Sep-2012 4,248 - 23.8% 2,866 - 33.6%

Oct-2012 3,978 - 25.5% 2,641 - 35.4%

Nov-2012 3,370 - 25.8% 2,253 - 37.2%

Dec-2012 2,559 - 29.2% 1,726 - 38.6%

Jan-2013 2,596 - 29.0% 1,833 - 38.3%

Feb-2013 2,742 - 32.2% 2,014 - 38.2%

Mar-2013 2,825 - 39.6% 2,171 - 41.2%

Apr-2013 3,141 - 37.5% 2,317 - 39.8%

5,252 5,1715,024

3,848

3,141

2,317

April

20132012 201320122011 2011

Average 3,651 - 25.2% 2,563 - 35.7%



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

-39.8%-25.6%-4.3% -37.5%

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

May-2012 5.1 - 25.0% 3.6 - 46.8%

Jun-2012 3.2 - 30.0% 2.7 - 44.5%

Jul-2012 3.4 - 36.6% 3.0 - 45.2%

Aug-2012 3.1 - 39.5% 2.3 - 48.1%

Sep-2012 5.5 - 22.9% 3.8 - 43.0%

Oct-2012 5.0 - 42.1% 3.7 - 53.6%

Nov-2012 3.7 - 43.9% 3.0 - 53.5%

Dec-2012 3.1 - 36.7% 2.2 - 48.7%

Jan-2013 4.3 - 38.6% 3.6 - 50.6%

Feb-2013 6.4 - 27.1% 4.6 - 45.5%

Mar-2013 4.5 - 37.7% 3.5 - 43.3%

Apr-2013 4.1 - 39.9% 2.9 - 43.2%

8.0 8.2

6.8

5.1

4.1

2.9

April

20132012 201320122011 2011

Average 4.3 - 35.4% 3.3 - 45.2%



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

-43.2%-38.1%-15.0% -39.9%

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

May-2012 96 - 5.9% 86 - 11.9%

Jun-2012 90 - 0.1% 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 - 11.5%

Nov-2012 89 - 17.9% 77 - 29.9%

Dec-2012 97 - 12.4% 84 - 30.1%

Jan-2013 109 - 16.5% 88 - 29.6%

Feb-2013 111 - 17.2% 95 - 22.7%

Mar-2013 107 - 17.7% 72 - 39.0%

Apr-2013 94 - 22.0% 63 - 35.3%

122117120

9894

63

April

125 125128

113104

77

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 93 - 12.2% 73 - 22.0%



40

60

80

100

120

140

160


Historical Days on Market Until Sale Single-Family Condominium

-35.3%-16.8%-1.7%

Single-Family Condominium-32.2%-9.9%+2.4%-22.0% -18.7%

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

May-2012 95.4% + 1.1% 96.1% + 1.0%

Jun-2012 95.3% + 0.8% 96.3% + 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% + 2.4%

Nov-2012 94.6% + 2.4% 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% 96.7% + 3.5%

Mar-2013 95.1% + 2.4% 97.6% + 3.8%

Apr-2013 96.7% + 3.4% 98.8% + 3.3%

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.

92.8% 93.8%93.5% 95.7%96.7% 98.8%

April

91.9% 93.0%92.2% 94.3%95.1% 97.5%

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Average 95.0% + 2.0% 96.6% + 2.4%



89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%


Historical Percent of Original List Price Received Single-Family Condominium

+3.3%+2.0%+0.8%


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

May-2012 1,325 + 23.0% 1,266 + 28.9%

Jun-2012 1,254 + 13.2% 1,039 + 19.3%

Jul-2012 1,044 + 26.2% 830 + 8.9%

Aug-2012 894 + 16.9% 815 + 22.4%

Sep-2012 839 + 27.5% 716 + 38.2%

Oct-2012 868 + 17.6% 817 + 38.2%

Nov-2012 784 + 16.3% 661 + 17.6%

Dec-2012 594 + 5.7% 499 + 6.6%

Jan-2013 576 + 6.7% 605 + 25.3%

Feb-2013 670 + 4.9% 647 + 2.2%

Mar-2013 1,036 + 5.5% 1,028 + 2.0%

Apr-2013 1,433 + 25.5% 1,343 + 28.3%

938840

1,1421,047

1,4331,343

April

2,6692,521

3,303 3,171

3,715 3,623

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 11,317 + 16.5% 10,266 + 19.5%



200

400

600

800

1,000

1,200

1,400


Historical Pending Sales Activity Single-Family Condominium

+28.3%+24.6%+21.7%


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

Single-FamilyYoY

ChangeCondominium

YoYChange

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 1,079 - 4.5% 882 - 2.0%

Nov-2012 649 - 3.3% 562 - 10.2%

Dec-2012 365 - 19.2% 319 - 17.8%

Jan-2013 903 - 6.2% 915 - 4.1%

Feb-2013 1,027 - 22.1% 966 - 15.3%

Mar-2013 1,393 - 30.6% 1,368 - 21.4%

Apr-2013 2,052 + 14.1% 1,692 + 12.9%

1,972

1,7231,798

1,499

2,052

1,692

April

5,632 5,7496,088

5,3355,3754,941

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 14,045 - 10.2% 12,088 - 8.4%



0

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

+12.9%-13.0%-8.8%

Single-Family Condominium-7.4%-7.2%+8.1%+14.1% -11.7%

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


- 0.1%

Inventory of Homes for Sale 2,064 1,175 - 43.1% -- -- --

Housing Affordability Index 118 113 - 4.7% 120 120

+ 2.0%

Median Sales Price $382,750 $413,000 + 7.9% $379,500 $411,500 + 8.4%

Closed Sales 421 403 - 4.3% 1,227 1,251

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

- 9.9%


New Listings 836 954 + 14.1% 3,044 2,742

+ 3.5%

Pending Sales 605 725 + 19.8% 1,781 1,966 + 10.4%

Percent of OriginalList Price Received

95.3% 98.5% + 3.3% 94.2% 97.5%

--

Days on Market Until Sale 103 54 - 47.1% 112 67 - 40.5%

Months Supply of Inventory 4.9 2.9 - 40.5% -- --

4 2010 4 2011 4 2012 4 2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013

4-2010 4-2011 4-2012 4-2013