Boston Area Homes Sales Increase Every Month for a Year
The number of detached single-family homes sold rose on an annual basis for a twelfth consecutive month in June, increasing 19.5 percent over the same month one year ago. The last time this happened was July 2009- June 2010. Double digit increases in sales growth on an annual basis have now been observed for the first six months of 2012. The 1,504 detached single-family homes sold in June 2012 makes it the single most active month for single-family home sales in 24 months, dating back to June 2010 when 1,434 homes were sold. Last month was also the busiest June for home sales in seven years and ranks as the fourth highest sales total on record for the month, exceeded only by June 2004 with 1,606 home sales, June 1999 with 1,536 sales, and June 2005 when 1,523 homes were sold.
On the condo side, sales increased nearly 18 percent on an annual basis in June, increasing nearly 200 units from 1,057 condos sold last June to 1,246 in June 2012. This marks the eleventh time in the past 12 months that condo sales have improved on an annual basis, and similar to the detached single-family home market, condo sales have experienced double-digit sales gains during all six months of 2012. Additionally, the average time it took for condos to sell fell to its lowest level in over 6 ½ years in June, being just 75 days.
To access monthly data by community, check out our Local Market Update reports, and our Monthly Market Indicator Reports for comprehensive regional housing market data for the GBAR/GBREB jurisdiction.