Boston, MA - Local Housing Data - Summary

Change location:

Region

State

City

Boston, Cambridge, Quincy, MA, NH

You have successfully subscribed to the local housing data e-newsletter for .

If you wish to receive monthly updates for other market areas please subscribe to new markets using our expanded form.

 
 
 
 
Unlock charts and graphs!

Once registered, see a dozen additional charts on 366 cities around the US.

 
Enlarge

Boston, MA Local News

New Home Sales and Prices Decrease in Boston According to Latest Data

Posted on: Aug 08, 2014 11:10:52 AM

The Boston, MA market saw a drop in new home closings year-over-year in April, and with a percentage drop steeper than March 2014, there were signals the market may be worsening. New home closings saw a 63.0% drop from a year earlier to 44. This was after the housing market saw a 34.1% drop year-over-year in March.

A total of 781 new homes were sold during the 12 months that ended in April, down from 856 for the year that ended in March.

New home closings represented 1.0% of overall housing closings. This is down from the a year earlier when new home closings accounted for 2.6% of total closings. For new and existing homes, closings slid in April after also declining in March year-over-year.

Pricing and Mortgage Trends

In April, the average price of newly sold homes declined year-over-year to $449,177 per unit, marking a 11.4% drop from the year-earlier figure. This decline is larger than the 2.4% drop in March from a year earlier.

Average mortgage size on new homes fell year-over-year in contrast to new home prices. It sank 2.2% in April from a year earlier to $320,334. In March 2014, average mortgage size on newly sold homes saw a 10.1% lift year-over-year from a year earlier.

 
 
 

Change location:

Region

State

City

 
 

Join the Discussion

Please read our Content Guidelines before posting.