Greater Boston Housing Report Card

Boston Condos for Sale & Boston Apartments

Greater Boston Housing Report Card

The Greater Boston Market

The Warren Group’s November report also included activity in the Greater Boston housing market, which encompasses the 139 communities located within Route 495.

Greater Boston single-family home sales in November fell 2.1% from 2023 to 1,642. Meanwhile, the median single-family sale price increased 6.1% to $742,500.

Condo sales in Greater Boston also fell last month, sliding 3.6% to 1,004 transactions. The median condo price, however, increased 9.1% from last year to $600,000.

The Greater Boston Market

The Warren Group’s May report also included activity in the Greater Boston housing market, which encompasses the 139 communities located within Route 495.

Greater Boston single-family home sales in May grew 7.3% from 2023 to 1,929. Meanwhile, the median single-family sale price increased 6.7% to $800,000.

Condo sales in Greater Boston were also up last month, rising 4.5% to 1,423 transactions, compared to 1,362 in May 2023. The median sale price also rose, up 3.3% from last year to $635,000.

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Greater Boston Housing Report Card

Boston Foundation – Boston housing report card. Excerpt from the executive summary:

In a nutshell, this report contains some very good news, but also some surprisingly disturbing news about home affordability, rents, and foreclosures.

The good news is that we now have some fairly strong indications that the current economic recession is drawing to an end nationally and regionally, and that at least in Massachusetts we believe we have seen the last of any major losses in jobs. We have also seen the first signs of an uptick in the housing market, with sales beginning to perk up along with home prices.

The bad news is that while housing has become more affordable relative to household incomes in Greater Boston, the region is now less affordable than ever compared with virtually every metro area we compete with across the country. Moreover, despite the recession, rents in Greater Boston are now substantially higher than before the recession began, and we have not seen any letup in the number of families falling behind in their mortgage payments and therefore becoming subject to the initiation of foreclosure activity.

In short, Greater Boston’s “housing crisis” is far from over.