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

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

July 2013 Quick Facts

+ 16.1%Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

It won't be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, much inventory was purchased by these groups. Now that prices are rising, there's less incentive for these kinds of buyers, yet affordability for consumers remains attractive.

New Listings in the Greater Boston region were up 13.9 percent for detached

+ 18.6%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

+ 17.2%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 August 20, 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.

homes and 11.3 percent for condominiums. Closed Sales increased 16.1 percent for detached homes and 18.6 percent for condominiums.

The Median Sales Price was up 4.5 percent to $533,000 for single-family properties and 4.0 percent to $402,600 for condominiums. Months Supply of Inventory decreased 43.5 percent for single-family units and 49.9 percent for townhouse-condo units.

With mortgage rates slightly up but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately-paced economic expansion. Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices. Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.

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 Jul-2012 Jul-2013 + / – YTD 2012 YTD 2013 + / –

6,539 + 5.9%Closed Sales 1,279 1,485 + 16.1% 6,173

$495,000 + 7.1%

102 92

3,988 2,615

$533,000 + 4.5% $462,000


Inventory of Homes for Sale

$510,000Median Sales Price

- 34.4% -- --

- 9.6% 111 98 - 11.4%

--

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

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 1,022 1,164 + 13.9% 10,245 10,130 - 1.1%

80 75

-- -- --1.8 - 43.5%

103

Months Supply of Inventory 3.1

Pending Sales + 9.8%7,911952 1,068 + 12.2% 7,208

94.2% 97.0%

- 27.4%

+ 2.9%Percent of OriginalList Price Received

Days on Market Until Sale

95.8%

- 41.8%

+ 2.4%

47

98.1%

7 2010 7 2011 7 2012 7 2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

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


- 9.9%

Inventory of Homes for Sale 2,849 1,693 - 40.6% -- -- --

Housing Affordability Index 131 120 - 9.0% 133 120

+ 8.3%

Median Sales Price $387,000 $402,600 + 4.0% $379,900 $400,000 + 5.3%

Closed Sales 1,042 1,236 + 18.6% 5,479 5,936

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

- 0.4%


New Listings 903 1,005 + 11.3% 8,777 8,746

+ 3.4%

Pending Sales 808 1,006 + 24.5% 6,529 7,267 + 11.3%

Percent of OriginalList Price Received

96.6% 99.9% + 3.5% 95.5% 98.8%

--

Days on Market Until Sale 71 38 - 46.0% 91 57 - 37.5%

Months Supply of Inventory 2.7 1.4 - 49.9% -- --

7 2010 7 2011 7 2012 7 2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Aug-2012 1,300 + 26.1% 1,204 + 25.3%

Sep-2012 766 - 1.2% 753 + 16.4%

Oct-2012 792 + 28.8% 712 + 39.1%

Nov-2012 907 + 32.4% 760 + 35.0%

Dec-2012 824 + 11.8% 769 + 19.6%

Jan-2013 606 + 15.9% 516 + 25.2%

Feb-2013 431 - 7.1% 435 + 13.3%

Mar-2013 631 - 2.6% 629 + 3.6%

Apr-2013 778 + 4.7% 806 + 6.3%

May-2013 1,117 + 11.1% 1,071 + 5.8%

Jun-2013 1,491 - 1.3% 1,243 - 1.7%

Jul-2013 1,485 + 16.1% 1,236 + 18.6%

1,021

855

1,279

1,042

1,485

1,236

July

20132012 20132012

5,1274,595

6,173

5,479

6,539

5,936

Year to Date

20132012 201320122011 2011 2011 2011

Total 11,128 + 11.1% 10,134 + 15.1%


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

+18.6%+21.9%+25.3%

Single-Family Condominium+8.3%+19.2%+20.4%+16.1% +5.9%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Aug-2012 $490,000 - 1.8% $380,000 + 3.0%

Sep-2012 $430,475 - 4.3% $375,000 + 2.0%

Oct-2012 $430,250 + 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% $372,500 + 4.9%

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

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

Apr-2013 $476,500 + 13.9% $389,000 + 4.7%

May-2013 $499,900 + 7.5% $410,000 + 7.6%

Jun-2013 $542,000 + 7.9% $420,000 + 5.0%

Jul-2013 $533,000 + 4.5% $402,600 + 4.0%

$500,000

$364,000

$510,000

$387,000

$533,000

$402,600

July

20132012 20132012

$462,000

$359,900

$462,000

$379,900

$495,000

$400,000

Year to Date

20132012 201320122011 2011 2011 2011

Median $480,000 + 6.0% $390,000 + 5.4%



$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


Historical Median Sales Price Single-Family Condominium

+4.0%+6.3%+2.0%

Single-Family Condominium+5.3%+5.6%0.0%+4.5% +7.1%


Single-FamilyYoY

ChangeCondominium

YoYChange

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% 142 + 4.8%

Feb-2013 122 - 2.0% 146 + 11.2%

Mar-2013 121 + 3.4% 128 - 8.9%

Apr-2013 112 - 5.0% 135 + 2.6%

May-2013 104 - 5.0% 124 - 5.0%

Jun-2013 90 - 11.6% 114 - 9.2%

Jul-2013 92 - 9.6% 120 - 9.0%

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.

90

120

102

131

92

120

July

96

121111

133

98

120

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Average 112 +1.8% 133 +1.8%



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

-9.0%+9.5%+13.9%

Single-Family Condominium-9.9%+10.1%+15.7%-9.6% -11.4%

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

Aug-2012 3,750 - 25.8% 2,538 - 38.0%

Sep-2012 3,924 - 26.1% 2,636 - 36.9%

Oct-2012 3,642 - 28.2% 2,434 - 38.4%

Nov-2012 3,127 - 27.8% 2,104 - 39.2%

Dec-2012 2,405 - 31.2% 1,614 - 41.1%

Jan-2013 2,395 - 30.9% 1,670 - 41.1%

Feb-2013 2,510 - 32.9% 1,784 - 40.7%

Mar-2013 2,458 - 41.4% 1,808 - 46.5%

Apr-2013 2,819 - 36.6% 2,044 - 40.1%

May-2013 3,031 - 33.7% 2,086 - 37.0%

Jun-2013 2,929 - 32.2% 1,988 - 35.6%

Jul-2013 2,615 - 34.4% 1,693 - 40.6%

5,216

4,5333,988

2,8492,615

1,693

July

20132012 201320122011 2011

Average 2,967 - 31.5% 2,033 - 39.5%



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

-40.6%-37.1%-23.5% -34.4%

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

Aug-2012 2.9 - 41.1% 2.1 - 50.5%

Sep-2012 5.1 - 25.3% 3.5 - 45.8%

Oct-2012 4.6 - 44.3% 3.4 - 55.7%

Nov-2012 3.4 - 45.5% 2.8 - 55.0%

Dec-2012 2.9 - 38.5% 2.1 - 50.8%

Jan-2013 4.0 - 40.4% 3.2 - 52.9%

Feb-2013 5.8 - 27.7% 4.1 - 47.6%

Mar-2013 3.9 - 39.8% 2.9 - 48.4%

Apr-2013 3.6 - 39.4% 2.5 - 43.6%

May-2013 2.7 - 40.4% 1.9 - 40.5%

Jun-2013 2.0 - 31.3% 1.6 - 34.5%

Jul-2013 1.8 - 43.5% 1.4 - 49.9%

5.1 5.3

3.12.7

1.81.4

July

20132012 201320122011 2011

Average 3.3 - 41.2% 2.5 - 49.3%



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

-49.9%-48.4%-39.0% -43.5%

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

Aug-2012 87 - 5.7% 76 - 18.2%

Sep-2012 89 - 12.0% 85 - 18.1%

Oct-2012 90 - 17.4% 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 - 29.5%

Feb-2013 111 - 17.2% 95 - 22.7%

Mar-2013 108 - 17.5% 72 - 39.0%

Apr-2013 94 - 22.1% 63 - 35.1%

May-2013 75 - 22.1% 51 - 40.6%

Jun-2013 56 - 37.3% 43 - 42.8%

Jul-2013 47 - 41.8% 38 - 46.0%

8490

80

71

4738

July

104 107103

91

75

57

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 81 - 21.3% 63 - 29.0%



30

50

70

90

110

130

150


Historical Days on Market Until Sale Single-Family Condominium

-46.0%-20.6%-3.9%

Single-Family Condominium-37.5%-14.6%-0.9%-41.8% -27.4%

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

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% + 3.7% 95.9% + 3.1%

Feb-2013 94.1% + 3.2% 96.6% + 3.5%

Mar-2013 95.2% + 2.4% 97.6% + 3.8%

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

May-2013 97.8% + 2.6% 99.5% + 3.5%

Jun-2013 98.3% + 3.2% 99.7% + 3.5%

Jul-2013 98.1% + 2.4% 99.9% + 3.5%

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.

94.3% 94.9%95.8% 96.6%98.1% 99.9%

July

93.4% 94.1%94.2% 95.5%97.0% 98.8%

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Average 96.0% + 2.5% 97.7% + 3.0%



89%

91%

93%

95%

97%

99%

101%


Historical Percent of Original List Price Received Single-Family Condominium

+3.5%+1.7%+1.6%


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

Aug-2012 789 + 11.4% 734 + 19.9%

Sep-2012 874 + 28.7% 743 + 38.1%

Oct-2012 884 + 19.1% 794 + 34.3%

Nov-2012 694 + 13.0% 605 + 10.0%

Dec-2012 516 + 9.1% 463 + 11.6%

Jan-2013 637 + 4.1% 664 + 20.1%

Feb-2013 719 - 5.4% 720 - 3.7%

Mar-2013 1,201 + 4.1% 1,180 + 10.5%

Apr-2013 1,422 + 14.6% 1,290 + 10.3%

May-2013 1,536 + 18.4% 1,291 + 9.3%

Jun-2013 1,328 + 11.4% 1,116 + 11.5%

Jul-2013 1,068 + 12.2% 1,006 + 24.5%

758707

952

808

1,0681,006

July

5,8895,253

7,2086,529

7,9117,267

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 11,668 + 11.9% 10,606 + 14.8%



200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200


Historical Pending Sales Activity Single-Family Condominium

+24.5%+14.3%+25.6%


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

Single-FamilyYoY

ChangeCondominium

YoYChange

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 648 - 3.4% 561 - 10.4%

Dec-2012 366 - 19.0% 319 - 17.8%

Jan-2013 903 - 6.3% 916 - 4.0%

Feb-2013 1,029 - 22.0% 966 - 15.3%

Mar-2013 1,395 - 30.5% 1,367 - 21.5%

Apr-2013 2,052 + 14.1% 1,696 + 13.1%

May-2013 2,043 + 14.6% 1,546 + 11.5%

Jun-2013 1,544 + 14.3% 1,250 + 8.5%

Jul-2013 1,164 + 13.9% 1,005 + 11.3%

1,168

9761,022

903

1,164

1,005

July

10,2649,568

10,245

8,777

10,130

8,746

Year to Date

20132012 20132012 20132012 201320122011 2011 2011 2011

Total 14,643 - 3.5% 12,451 - 2.9%



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

+11.3%-7.5%-12.5%

Single-Family Condominium-0.4%-8.3%-0.2%+13.9% -1.1%

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


- 11.4%

Inventory of Homes for Sale 1,482 904 - 39.0% -- -- --

Housing Affordability Index 102 92 - 9.6% 111 98

+ 2.4%

Median Sales Price $406,500 $440,000 + 8.2% $403,125 $430,500 + 6.8%

Closed Sales 582 682 + 17.2% 3,115 3,191

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

- 1.1%


New Listings 472 574 + 21.6% 4,967 4,910

+ 3.4%

Pending Sales 410 547 + 33.4% 3,657 3,987 + 9.0%

Percent of OriginalList Price Received

96.6% 99.7% + 3.3% 95.4% 98.7%

--

Days on Market Until Sale 65 34 - 47.3% 89 49 - 44.7%

Months Supply of Inventory 2.5 1.3 - 47.9% -- --

7 2010 7 2011 7 2012 7 2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013