Boston Condos for Sale and Apartments for Rent

Loading...

Boston condo sales data 2022

Boston home prices show no signs of slowing in March S&P CoreLogic Case-Shiller Index 

The pace of housing-price gains in Boston remained brisk in March, as national prices posted their highest year-over-year gain in history. 

Boston real estate prices rose 14.5% year over year

Boston real estate prices rose 14.5% year over year and 2.6% month over month, while nationally they rose 20.6% annually and 2.6% monthly, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. 

“Those of us who have been anticipating a deceleration in the growth rate of U.S. home prices will have to wait at least a month longer,” S&P DJI Managing Director Craig Lazzara said in a press release. “Mortgages are becoming more expensive as the Federal Reserve has begun to ratchet up interest rates, suggesting that the macroeconomic environment may not support extraordinary home-price growth for much longer. Although one can safely predict that price gains will begin to decelerate, the timing of the deceleration is a more difficult call.” 

The 10-city composite index rose 19.5% on a yearly basis and 2.2% on a monthly basis, while the 20-city composite rose 21.2% annually and 2.4% monthly. The 20-city index’s year-over-year increase was the largest in its 35-year history. 

“The strength of the composite indices suggests very broad strength in the housing market, which we continue to observe,” Lazzara said. “All 20 cities saw double-digit price increases for the 12 months ended in March, and price growth in 17 cities accelerated relative to February’s report. March’s price increase ranked in the top quintile of historical experience for every city and in the top decile for 19 of them.” 

Updated: Boston Real Estate Blog 2022

Click Here to view: Google Ford Realty Inc Reviews

Boston condos
Boston condos for sale

————————————————————————————————————————————————————————————–

Existing-home sales fell for the third straight month in April as homebuyer purchasing power was hammered by higher home prices and a jump in interest rates, the National Association of REALTORS® said. 

At the same time, total housing inventory rose 10.8% on a month-over-month basis to 1,030,000 units.   

Total existing-home sales, which are completed transactions, including single-family homes, townhomes, condominiums and co-ops, slid 2.4% from March to a seasonally adjusted annual rate of 5.61 million in April. Year over year, sales volume was down 5.9% from 5.96 million transactions in April 2021.     

“Higher home prices and sharply higher mortgage rates have reduced buyer activity,” NAR chief economist Lawrence Yun said in a press release. “It looks like more declines are imminent in the upcoming months, and we’ll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years.”

The median existing-home price for all housing types in April was $391,200, up 14.8% from a year before, as median prices rose in each region.     

April’s unsold inventory represented a 2.2-month supply at the current sales pace, up from 1.9 months in the prior month and down from 2.3 months last year.   

Properties typically remained on the market for 17 days in April, equal to the number of days in March as well as April 2021. Eighty-eight percent of homes sold in April were on the market for less than a month. 

“The market is quite unusual, as sales are coming down, but listed homes are still selling swiftly, and home prices are much higher than a year ago,” NAR’s chief economist said. “”Moreover, an increasing number of buyers with short-tenure expectations could opt for 5-year adjustable-rate mortgages, thereby assuring fixed payments over five years because of the rate reset.”

By property type, single-family home sales in April slid to a seasonally adjusted annual rate of 4.99 million, down 2.5% from 5.12 million in the previous month and down 4.8% from a year earlier. The median existing single-family home price was $397,600, up 14.8% on a year-over-year basis. 

Condo Sales Down    

Existing condominium and co-op sales came in at a seasonally adjusted annual rate of 620,000 units in April, down 1.6% from March and 13.9% compared to April 2021. The median existing condo price rose 13.1% year over year to $340,000.   

In April, first-time buyers were responsible for 28% of sales, down from 30% in March and down from 31% in April 2021, while individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes, down from 18% in March and equal to 17% in April 2021.   

_____________________________________________________________________________________________________________________________________

Boston Condo Sales January 2022 – 290

DOWN 10.5% vs Jan 2021

____________________________________

Boston Condo Median Sale Price January 2022 – $666,950

UP 1.8% vs Jan 2021

__________________________________

Boston Condo Median Sale Price/SF$662

DOWN 4.7% vs Jan 2021

___________________________________

Boston condos
Click Here to view: Google Ford Realty Inc Reviews

Boston Condo Sales Data 2021

 Boston real estate 

Loading...

Let’s take a look at the most recent sales data from the Greater Boston Real Estate Association.

 Boston real estate 

Loading...

Looking for Boston condos for sale.

Contact me to set up an appointment to start your Boston condo buying process

Back to homepage Boston condos

Boston condos for sale

SEARCH BOSTON CONDOS FOR SALE AND RENT

For more information please contact one of our on-call agents at 617-595-3712.