metro boston monthly indicators report, october 2012

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

October 2012 Quick Facts

+ 28.1%Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

It's been a giant year for the housing market – and for sports teams named Giants. As we round out the remaining two months of the year, let's recap. Most markets shed listings, resulting from strong sales and sluggish seller activity. There has been a general easing of foreclosures and short sales, meaning distressed listings are dragging prices down less than in recent years. So it's both about market fundamentals and market composition.

+ 36.1%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

+ 31.7%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 November 16, 2012. 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 6.2 percent for detached homes and 2.0 percent for condominiums. Pending Sales increased 23.4 percent for single-family homes and 40.6 percent for condominiums.

The Median Sales Price was up 10.3 percent to $430,000 for single-family properties and 4.6 percent to $365,000 for condominiums. Months Supply of Inventory decreased 47.1 percent for single-family units and 57.1 percent for townhouse-condo units.

The economy is growing but at a glacial pace, and economic growth in 2013 is expected to outpace 2012. Mortgage rates are expected to remain near historic lows through 2015, rents are expected to rise due to low vacancy, and financial situations in Europe, China and elsewhere, believe it or not, have an effect on your local housing market.

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 Oct-2011 Oct-2012 + / – YTD 2011 YTD 2012 + / –

9,127 + 19.6%Closed Sales 619 793 + 28.1% 7,634

$458,000 + 0.5%

116 115

5,417 3,670

$430,000 + 10.3% $455,500


Inventory of Homes for Sale

$390,000Median Sales Price

- 32.3% -- --

- 0.6% 101 109 + 7.7%

--

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

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 1,159 1,087 - 6.2% 14,245 13,901 - 2.4%

108 99

-- -- --4.6 - 47.1%

103

Months Supply of Inventory 8.8

Pending Sales + 22.6%9,723744 918 + 23.4% 7,928

93.3% 94.4%

- 3.9%

+ 1.2%Percent of OriginalList Price Received

Days on Market Until Sale

91.8%

- 16.2%

+ 2.8%

91

94.4%

10 2009 10 2010 10 2011 10 2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

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


+ 4.0%

Inventory of Homes for Sale 4,095 2,391 - 41.6% -- -- --

Housing Affordability Index 128 134 + 4.3% 125 130

+ 20.9%

Median Sales Price $349,000 $365,000 + 4.6% $360,000 $378,000 + 5.0%

Closed Sales 513 698 + 36.1% 6,734 8,141

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

- 7.9%


New Listings 902 884 - 2.0% 12,632 11,630

+ 1.8%

Pending Sales 593 834 + 40.6% 6,937 8,736 + 25.9%

Percent of OriginalList Price Received

93.6% 95.8% + 2.4% 94.1% 95.7%

--

Days on Market Until Sale 95 83 - 12.0% 104 88 - 15.2%

Months Supply of Inventory 8.0 3.4 - 57.1% -- --

10 2009 10 2010 10 2011 10 2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Nov-2011 690 + 8.8% 562 + 11.1%

Dec-2011 745 + 1.2% 645 - 1.5%

Jan-2012 526 + 12.6% 413 + 2.7%

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% 1,269 + 20.1%

Jul-2012 1,291 + 25.2% 1,039 + 21.5%

Aug-2012 1,316 + 26.7% 1,204 + 24.5%

Sep-2012 772 - 1.5% 753 + 16.2%

Oct-2012 793 + 28.1% 698 + 36.1%

584

482

619

513

793

698

October

20122011 20122011

7,7797,145

7,634

6,734

9,127

8,141

Year to Date

20122011 201220112010 2010 2010 2010

Total 10,562 + 17.3% 9,348 + 18.4%


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

Historical Closed Sales Activity Single-Family Condominium

+36.1%+6.4%+6.0%

Single-Family Condominium+20.9%-5.8%-1.9%+28.1% +19.6%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Nov-2011 $423,000 - 4.6% $350,500 - 7.3%

Dec-2011 $440,000 + 1.1% $344,500 - 3.0%

Jan-2012 $405,000 - 9.0% $349,950 - 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 $430,000 + 10.3% $365,000 + 4.6%

$441,250

$333,000

$390,000

$349,000

$430,000

$365,000

October

20122011 20122011

$451,100

$345,000

$455,500

$360,000

$458,000

$378,000

Year to Date

20122011 201220112010 2010 2010 2010

Median $453,000 + 0.4% $375,000 + 4.2%



$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


Historical Median Sales Price Single-Family Condominium

+4.6%+4.8%-11.6%

Single-Family Condominium+5.0%+4.3%+1.0%+10.3% +0.5%


Single-FamilyYoY

ChangeCondominium

YoYChange

Nov-2011 108 + 10.0% 128 + 12.8%

Dec-2011 104 + 5.9% 130 + 9.9%

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 - 0.6% 134 + 4.3%

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.

97

125116

128

115

134

October

95

122

101

125

109

130

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Average 108 +9.6% 127 +6.3%



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

+4.3%+2.2%+19.3%

Single-Family Condominium+4.0%+2.5%+6.4%-0.6% +7.7%

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

Nov-2011 4,600 - 3.4% 3,592 - 20.9%

Dec-2011 3,654 - 2.9% 2,809 - 20.8%

Jan-2012 3,688 - 2.8% 2,968 - 19.3%

Feb-2012 4,077 + 6.3% 3,257 - 16.8%

Mar-2012 4,694 + 1.5% 3,683 - 21.4%

Apr-2012 5,037 - 5.3% 3,832 - 26.1%

May-2012 5,134 - 10.4% 3,638 - 30.3%

Jun-2012 4,796 - 16.2% 3,341 - 34.5%

Jul-2012 4,334 - 22.5% 3,047 - 35.4%

Aug-2012 3,916 - 27.0% 2,603 - 38.2%

Sep-2012 4,076 - 27.7% 2,684 - 37.9%

Oct-2012 3,670 - 32.3% 2,391 - 41.6%

5,4195,175

5,417

4,0953,670

2,391

October

20122011 20122011

32 3%

2010 2010

Average 4,306 - 13.3% 3,154 - 28.9%



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

-41.6%-20.9%-0.0% -32.3%

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

Nov-2011 6.7 - 11.2% 6.4 - 28.8%

Dec-2011 4.9 - 4.1% 4.4 - 19.5%

Jan-2012 7.0 - 13.7% 7.2 - 21.5%

Feb-2012 8.6 - 20.4% 8.5 - 25.9%

Mar-2012 7.1 - 12.9% 6.1 - 29.2%

Apr-2012 6.7 - 15.5% 5.0 - 38.2%

May-2012 5.0 - 25.6% 3.6 - 47.3%

Jun-2012 3.1 - 31.0% 2.6 - 45.4%

Jul-2012 3.4 - 38.1% 2.9 - 46.8%

Aug-2012 3.0 - 42.4% 2.2 - 50.4%

Sep-2012 5.3 - 26.6% 3.6 - 46.6%

Oct-2012 4.6 - 47.1% 3.4 - 57.1%

9.3

10.7

8.88.0

4.6

3.4

October

20122011 201220112010 2010

Average 5.4 - 19.6% 4.5 - 32.9%



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

-57.1%-25.7%-5.7% -47.1%

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

Nov-2011 110 + 4.1% 109 + 7.7%

Dec-2011 112 - 0.3% 120 + 11.8%

Jan-2012 130 + 15.0% 124 - 5.1%

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 - 19.4%

Jul-2012 81 - 4.4% 71 - 20.7%

Aug-2012 88 - 5.4% 76 - 18.3%

Sep-2012 89 - 12.2% 85 - 17.9%

Oct-2012 91 - 16.2% 83 - 12.0%

105111108

959183

October

93101103 104

99

88

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Total 101 - 3.2% 84 - 10.8%



40

60

80

100

120

140

160


Historical Days on Market Until Sale Single-Family Condominium

-12.0%-14.8%+3.7%

Single-Family Condominium-15.2%+2.0%+11.2%-16.2% -3.9%

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

Nov-2011 92.4% - 0.3% 93.8% - 0.2%

Dec-2011 92.2% + 1.0% 93.0% + 0.1%

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 94.4% + 2.8% 95.8% + 2.4%

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.

92.1% 93.5%91.8% 93.6%94.4% 95.8%

October

93.9% 94.5%93.3% 94.1%94.4% 95.7%

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Average 94.1% + 1.1% 95.4% + 1.5%



89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%


Historical Percent of Original List Price Received Single-Family Condominium

+2.4%+0.1%-0.4%


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

Nov-2011 684 + 16.7% 564 - 2.1%

Dec-2011 570 + 5.2% 471 + 6.3%

Jan-2012 546 + 26.7% 484 + 18.6%

Feb-2012 651 + 23.1% 636 + 24.2%

Mar-2012 997 + 24.9% 1,015 + 32.7%

Apr-2012 1,154 + 21.9% 1,049 + 24.3%

May-2012 1,340 + 23.2% 1,270 + 28.8%

Jun-2012 1,273 + 13.8% 1,049 + 19.6%

Jul-2012 1,057 + 26.6% 840 + 9.9%

Aug-2012 923 + 19.4% 828 + 23.6%

Sep-2012 864 + 30.1% 731 + 41.1%

Oct-2012 918 + 23.4% 834 + 40.6%

722

554

744

593

918834

October

8,0057,183

7,9286,937

9,7238,736

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Total 10,977 + 21.2% 9,771 + 22.8%



200

400

600

800

1,000

1,200

1,400


Historical Pending Sales Activity Single-Family Condominium

+40.6%+7.0%+3.0%


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

Single-FamilyYoY

ChangeCondominium

YoYChange

Nov-2011 682 - 8.6% 628 - 11.8%

Dec-2011 459 + 6.0% 389 - 20.4%

Jan-2012 974 + 14.3% 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% 1,503 - 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% 1,156 - 9.8%

Oct-2012 1,087 - 6.2% 884 - 2.0%

1,1861,1251,159

902

1,087

884

October

14,680 14,73614,245

12,63213,901

11,630

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Total 15,042 - 2.5% 12,647 - 8.6%



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

-2.0%-19.8%-2.3%

Single-Family Condominium-7.9%-14.3%-3.0%-6.2% -2.4%

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


+ 7.7%

Inventory of Homes for Sale 2,191 1,204 - 45.0% -- -- --

Housing Affordability Index 116 115 - 0.6% 101 109

+ 23.1%

Median Sales Price $352,000 $415,000 + 17.9% $375,000 $400,000 + 6.7%

Closed Sales 281 364 + 29.5% 3,704 4,561

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

- 8.1%


New Listings 511 517 + 1.2% 7,135 6,558

+ 1.9%

Pending Sales 344 456 + 32.6% 3,850 4,863 + 26.3%

Percent of OriginalList Price Received

92.8% 96.0% + 3.5% 93.8% 95.6%

--

Days on Market Until Sale 95 70 - 26.6% 99 84 - 15.9%

Months Supply of Inventory 7.8 3.3 - 57.6% -- --

10 2009 10 2010 10 2011 10 2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

metro boston monthly indicators report, october 2012

Real Estate

greater boston association

family condominium single

massachusetts association

family condominium1

seller concessions

date figures

10k research

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