With the release of the newest market reports from the Greater Boston Association of Realtors, we see very little change from previous months in most of the data. New listings were down a bit over 5% for single families and a bit over 10% for condominiums. It is no surprise that supply is still tight in the Boston real estate market. Although we have seen a fairly significant growth in job creation over the first quarter of 2014, it has not resulted in significant changes in the Boston housing market as of yet.

What does that mean for sellers?

As you can see, demand remains high but sales are lower because supply of homes to buy is not keeping up pace with this demand. Inventory is shrinking in some areas from past years but we are starting to see pockets where more demand is hitting the market. Good news for sellers is that price continues to trend up as is evidenced by the 8.$% increase from April of last year. The Boston condo market hit a median sale price of $419,950 which marks a 14th consecutive month of increases.

Time to buy?

Ready to start thinking about the buying process? Check out or home buyer seminar in a few weeks. This is a great opportunity to learn about the home buying process, mortgages, and ask questions while enjoying some snacks. Sign up here!