market data, november 2012

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

November 2012 Quick Facts

+ 31.7%Year-Over-Year(YoY) Change inClosed Sales

Single-Family Only

This November, there was a lot to be thankful for. Home buyers were thankful for historically low mortgage rates and still-affordable prices. Sellers were thankful for increased sales, less competition and faster market times. Both parties can be thankful for the slow yet steady economic recovery. Challenges persist, to be sure, going into 2013, but there's more reason for optimism than pessimism. Here's the local scoop.

+ 32.4%Year-Over-Year(YoY) Change inClosed Sales

Condominium Only

+ 32.0%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 December 17, 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 3.8 percent for single-family homes and 10.2 percent for condominiums. Closed Sales increased 31.7 percent for single-family homes and 32.4 percent for condominiums.

The Median Sales Price was up 5.8 percent to $447,500 for single-family properties and 8.4 percent to $380,000 for condominiums. Months Supply of Inventory decreased 49.8 percent for single-family units and 57.2 percent for townhouse-condo units.

There are three primary avenues to housing recovery: better market fundamentals, improved market composition and more jobs. Many communities are enjoying better fundamentals, such as higher demand and less supply. But many areas are also experiencing a lower overall share of distressed sales activity. In the month ahead, continue to watch hiring and unemployment trends.

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 Nov-2011 Nov-2012 + / – YTD 2011 YTD 2012 + / –

10,043 + 20.7%Closed Sales 690 909 + 31.7% 8,324

$456,500 + 1.1%

108 112

4,601 3,042

$447,500 + 5.8% $451,500


Inventory of Homes for Sale

$423,000Median Sales Price

- 33.9% -- --

+ 3.7% 102 110 + 7.8%

--

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

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 682 656 - 3.8% 14,927 14,558 - 2.5%

110 98

-- -- --3.3 - 49.8%

104

Months Supply of Inventory 6.7

Pending Sales + 21.9%10,500684 811 + 18.6% 8,612

93.2% 94.4%

- 5.3%

+ 1.3%Percent of OriginalList Price Received

Days on Market Until Sale

92.4%

- 18.0%

+ 2.4%

90

94.6%

11 2009 11 2010 11 2011 11 2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

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


+ 4.1%

Inventory of Homes for Sale 3,594 2,037 - 43.3% -- -- --

Housing Affordability Index 128 129 + 1.4% 125 130

+ 22.0%

Median Sales Price $350,500 $380,000 + 8.4% $360,000 $378,500 + 5.1%

Closed Sales 562 744 + 32.4% 7,296 8,901

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

- 8.0%


New Listings 628 564 - 10.2% 13,260 12,194

+ 1.8%

Pending Sales 564 666 + 18.1% 7,500 9,371 + 24.9%

Percent of OriginalList Price Received

93.8% 96.2% + 2.6% 94.0% 95.8%

--

Days on Market Until Sale 109 74 - 32.4% 104 87 - 16.7%

Months Supply of Inventory 6.4 2.7 - 57.2% -- --

11 2009 11 2010 11 2011 11 2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

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

Single-FamilyYoY

ChangeCondominium

YoYChange

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% 1,270 + 20.2%

Jul-2012 1,293 + 25.4% 1,040 + 21.6%

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

Sep-2012 772 - 1.5% 754 + 16.4%

Oct-2012 798 + 28.9% 711 + 38.6%

Nov-2012 909 + 31.7% 744 + 32.4%

634

506

690

562

909

744

November

20122011 20122011

8,4137,651

8,324

7,296

10,043

8,901

Year to Date

20122011 201220112010 2010 2010 2010

Total 10,788 + 19.1% 9,546 + 20.1%


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

Historical Closed Sales Activity Single-Family Condominium

+32.4%+11.1%+8.8%

Single-Family Condominium+22.0%-4.6%-1.1%+31.7% +20.7%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

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 $429,000 + 10.0% $365,500 + 4.7%

Nov-2012 $447,500 + 5.8% $380,000 + 8.4%

$443,500

$378,200

$423,000

$350,500

$447,500

$380,000

November

20122011 20122011

$450,000

$349,000

$451,500

$360,000

$456,500

$378,500

Year to Date

20122011 201220112010 2010 2010 2010

Median $455,000 + 1.1% $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

+8.4%-7.3%-4.6%

Single-Family Condominium+5.1%+3.2%+0.3%+5.8% +1.1%


Single-FamilyYoY

ChangeCondominium

YoYChange

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 - 0.4% 133 + 4.2%

Nov-2012 112 + 3.7% 129 + 1.4%

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.

98

113108

128

112

129

November

97

121

102

125

110

130

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Average 108 +9.1% 127 +5.3%



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

+1.4%+12.8%+10.0%

Single-Family Condominium+4.1%+3.0%+5.3%+3.7% +7.8%

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

Dec-2011 3,657 - 2.8% 2,814 - 20.6%

Jan-2012 3,693 - 2.7% 2,973 - 19.2%

Feb-2012 4,082 + 6.4% 3,262 - 16.7%

Mar-2012 4,701 + 1.6% 3,690 - 21.3%

Apr-2012 5,043 - 5.2% 3,843 - 25.9%

May-2012 5,144 - 10.2% 3,652 - 30.1%

Jun-2012 4,814 - 15.9% 3,359 - 34.1%

Jul-2012 4,366 - 22.0% 3,076 - 34.8%

Aug-2012 3,974 - 26.0% 2,651 - 37.1%

Sep-2012 4,155 - 26.3% 2,755 - 36.3%

Oct-2012 3,784 - 30.2% 2,490 - 39.2%

Nov-2012 3,042 - 33.9% 2,037 - 43.3%

4,7604,5434,601

3,594

3,042

2,037

November

20122011 201220112010 2010

Average 4,205 - 15.1% 3,050 - 30.0%



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

-43.3%-20.9%-3.3% -33.9%

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

Dec-2011 4.9 - 4.0% 4.4 - 19.4%

Jan-2012 7.0 - 13.6% 7.2 - 21.4%

Feb-2012 8.6 - 20.3% 8.5 - 25.8%

Mar-2012 7.2 - 12.7% 6.1 - 29.1%

Apr-2012 6.7 - 15.4% 5.1 - 38.1%

May-2012 5.1 - 25.4% 3.6 - 47.1%

Jun-2012 3.1 - 30.8% 2.6 - 45.2%

Jul-2012 3.4 - 37.8% 3.0 - 46.4%

Aug-2012 3.0 - 41.6% 2.2 - 49.5%

Sep-2012 5.4 - 25.2% 3.7 - 45.3%

Oct-2012 4.7 - 45.8% 3.5 - 56.1%

Nov-2012 3.3 - 49.8% 2.7 - 57.2%

7.5

9.0

6.7 6.4

3.32.7

November

20122011 201220112010 2010

Average 5.2 - 22.3% 4.3 - 35.0%



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

-57.2%-28.8%-11.2% -49.8%

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

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 - 19.5%

Jul-2012 81 - 4.5% 71 - 20.7%

Aug-2012 88 - 5.4% 76 - 18.3%

Sep-2012 89 - 12.2% 85 - 18.0%

Oct-2012 91 - 16.4% 83 - 12.3%

Nov-2012 90 - 18.0% 74 - 32.4%

105 102110 109

90

74

November

94102104 104

98

87

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Total 99 - 5.0% 82 - 13.3%



40

60

80

100

120

140

160


Historical Days on Market Until Sale Single-Family Condominium

-32.4%+7.7%+4.1%

Single-Family Condominium-16.7%+2.5%+10.6%-18.0% -5.3%

Percent of Original List Price Received

Single-FamilyYoY

ChangeCondominium

YoYChange

Dec-2011 92.1% + 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 94.3% + 2.8% 95.9% + 2.4%

Nov-2012 94.6% + 2.4% 96.2% + 2.6%

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.

92.7% 94.0%92.4% 93.8%94.6% 96.2%

November

93.8% 94.5%93.2% 94.0%94.4% 95.8%

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Average 94.2% + 1.3% 95.6% + 1.7%



89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%


Historical Percent of Original List Price Received Single-Family Condominium

+2.6%-0.2%-0.3%

Single-Family Condominium+1.8%-0.5%-0.7%+2.4% +1.3%

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

Dec-2011 570 + 5.2% 471 + 6.6%

Jan-2012 545 + 26.5% 484 + 18.6%

Feb-2012 652 + 23.3% 636 + 24.2%

Mar-2012 994 + 24.6% 1,013 + 32.4%

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

May-2012 1,338 + 23.0% 1,269 + 28.7%

Jun-2012 1,272 + 13.7% 1,047 + 19.5%

Jul-2012 1,057 + 26.6% 838 + 9.7%

Aug-2012 913 + 18.1% 825 + 23.1%

Sep-2012 859 + 29.4% 720 + 39.0%

Oct-2012 905 + 21.6% 824 + 39.0%

Nov-2012 811 + 18.6% 666 + 18.1%

586 576

684

564

811

666

November

8,5917,759

8,612

7,500

10,500

9,371

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Total 11,070 + 20.9% 9,842 + 23.9%



200

400

600

800

1,000

1,200

1,400


Historical Pending Sales Activity Single-Family Condominium

+18.1%-2.1%+16.7%

Single-Family Condominium+24.9%-3.3%+0.2%+18.6% +21.9%

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

Single-FamilyYoY

ChangeCondominium

YoYChange

Dec-2011 459 + 6.0% 389 - 20.4%

Jan-2012 975 + 14.4% 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% 1,504 - 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% 883 - 2.1%

Nov-2012 656 - 3.8% 564 - 10.2%

746712

682628

656

564

November

15,426 15,44814,927

13,26014,558

12,194

Year to Date

20122011 20122011 20122011 201220112010 2010 2010 2010

Total 15,017 - 2.2% 12,583 - 8.5%



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

-10.2%-11.8%-8.6%

Single-Family Condominium-8.0%-14.2%-3.2%-3.8% -2.5%

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


+ 7.8%

Inventory of Homes for Sale 1,883 959 - 49.1% -- -- --

Housing Affordability Index 108 112 + 3.7% 102 110

+ 24.2%

Median Sales Price $376,750 $400,000 + 6.2% $375,000 $400,000 + 6.7%

Closed Sales 327 436 + 33.3% 4,031 5,007

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

- 8.4%


New Listings 347 299 - 13.8% 7,482 6,856

+ 1.9%

Pending Sales 325 411 + 26.5% 4,174 5,261 + 26.0%

Percent of OriginalList Price Received

93.4% 96.0% + 2.7% 93.8% 95.6%

--

Days on Market Until Sale 108 69 - 36.1% 100 82 - 17.9%

Months Supply of Inventory 5.8 2.2 - 61.8% -- --

11 2009 11 2010 11 2011 11 2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

11-2009 11-2010 11-2011 11-2012

market data, november 2012

Real Estate

originallist

greater boston

housing affordability

change inclosed

median sales

massachusetts

pending sales

closed sales