Here’s February 2015’s Monthly Indicators report from the Greater Boston Association of Realtors® February condo sales closed down by almost two percent compared to the year before. Median prices continued to go up as supply continues to be down. Sellers were waiting out Mother Nature to add their homes to the market keeping new listings down in February. • February single-family home sales: UP +5.0% over February 2014; median prices UP +7.9% ($439,500) • February condo sales DOWN -1.8% over February 2014; median prices UP +3.5% ($403,568) • Inventory in February DOWN -29.3% to 1,992 and Condominiums Down -32.9% to 1,057 • SF listings added to the market in February DOWN -38.7% over last year. (700 from 1,141 in 2014) • Condo listings added to the market DOWN -33.7% over last year. (615 from 927 in 2014)

1. Monthly IndicatorsA RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS®
February 2015 Quick Facts
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Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of March 16, 2015. All data from MLS Property
Information Network, Inc. Provided by Greater Boston Association of REALTORS® and the Massachusetts Association of REALTORS®. Powered by 10K Research and Marketing.
+ 5.0%
Year-Over-Year
(YoY) Change in
Closed Sales
Single-Family Only
There has been talk of abundant cold and snow this winter (unless you happen
to live in California!). When weather patterns turn bad, like wicked bad, real
estate industry pundits tend to go gloom, assuming that Americans hungry for
homeownership are bothered by a little frozen precipitation. The nation will
unfreeze, inventory is expected to rise and home sales are widely expected to
increase. These are good times, indeed, and many of us now have an
enchanting shared experience that we can walk uphill to school both ways.
New Listings in the Greater Boston region were down 38.7 percent for detached
homes and 33.7 percent for condominiums. Closed Sales increased 5.0 percent
for detached homes but decreased 1.8 percent for condominiums.
The Median Sales Price was up 7.9 percent to $439,500 for single-family
properties and 3.5 percent to $403,568 for condominiums. Months Supply of
Inventory decreased 32.7 percent for single-family units and 31.7 percent for
townhouse-condo units.
In national financial news, rumors that Fannie Mae and Freddie Mac could one
day be a thing of the past have people wondering about the future of the 30-
year fixed-rate mortgage. But let's not sound the alarm just yet. A drastic
change to lending's gold standard is certainly not on the immediate horizon.
Meanwhile, Federal Reserve Chair Janet Yellen seems to have no immediate
interest in raising interest rates for the first time since 2006. The economy
remains stable, which should keep housing rolling through the short-named
months.
- 1.8%
Year-Over-Year
(YoY) Change in
Closed Sales
Condominium Only
+ 1.9%
Year-Over-Year
(YoY) Change in
Closed Sales
All Properties
Single-Family Market Overview
Condominium Market Overview
Closed Sales
Median Sales Price
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
Days On Market Until Sale
Percent of Original List Price Received
City of Boston Overview
Pending Sales
New Listings

2. 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 Feb-2014 Feb-2015 + / – YTD 2014 YTD 2015 + / –
95.5% 95.4%
+ 10.8%
- 0.1%
Percent of Original
List Price Received
Days on Market Until Sale
95.8%
+ 11.4%
- 0.7%
105
95.1%
Pending Sales
Median Sales Price
+ 3.7%1,494795 735 - 7.5% 1,441
- 29.3% -- --
- 1.4% 105 103 - 1.3%
--
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory 5.4
$407,450 + 7.8%
94
106 104
96
-- -- --
2,817 1,992
3.6 - 32.7%
$439,500 + 7.9% $410,900
87
1,284 + 2.6%
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. | 2
New Listings 1,141 700 - 38.7% 2,078 1,596 - 23.2%
Closed Sales 520 546 + 5.0% 1,252
$443,048
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015

3. Condominium Market Overview
Key market metrics for the current month and year-to-date figures for Condominium Properties Only.
Key Metrics Historical Sparklines Feb-2014 Feb-2015 + / – YTD 2014 YTD 2015 + / –
- 9.7%
Median Sales Price $390,000 $403,568 + 3.5% $395,000 $425,000 + 7.6%
Closed Sales 450 442 - 1.8% 1,018 919
- 1.1%
Inventory of Homes for Sale 1,575 1,057 - 32.9% -- -- --
Housing Affordability Index 110 114 + 2.8% 109 108
--
Days on Market Until Sale 80 76 - 4.8% 72 69 - 3.5%
Months Supply of Inventory 3.5 2.4 - 31.7% -- --
+ 0.4%
Pending Sales 746 598 - 19.8% 1,378 1,172 - 14.9%
Percent of Original
List Price Received
98.0% 97.9% - 0.1% 97.5% 97.8%
- 23.1%
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. | 3
New Listings 927 615 - 33.7% 1,719 1,322
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015

4. Closed Sales
A count of the actual sales that have closed in a given month.
Single-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 711 - 9.5% 692 + 3.6%
Apr-2014 862 - 6.4% 867 + 2.0%
May-2014 1,206 - 9.3% 999 - 10.2%
Jun-2014 1,683 - 3.7% 1,266 - 2.6%
Jul-2014 1,738 - 1.5% 1,196 - 9.5%
Aug-2014 1,516 - 10.5% 1,138 - 14.8%
Sep-2014 1,066 - 6.4% 862 - 7.4%
Oct-2014 1,045 - 4.0% 863 + 6.8%
Nov-2014 958 - 8.0% 650 - 14.4%
Dec-2014 1,114 + 3.1% 809 - 3.1%
Jan-2015 738 + 0.8% 477 - 16.0%
Feb-2015 546 + 5.0% 442 - 1.8%
Total 13,183 - 4.8% 10,261 - 6.2%
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. | 4
546
462
520
450
546
442
Single-Family Condominium
February
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 Jan-2013 Jan-2014 Jan-2015
Historical Closed Sales Activity Single-Family Condominium
-1.8%-2.6%-4.8%
20152014 20152014
1,297
1,003
1,252
1,018
1,284
919
Single-Family Condominium
Year to Date
-9.7%+1.5%-3.5%
20152014 20152014
+5.0% +2.6%
2013 2013 2013 2013

5. Median Sales Price
Median price point for all closed sales, not accounting for seller concessions, in a given month.
Single-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 $427,000 + 13.0% $420,000 + 7.7%
Apr-2014 $440,000 + 4.8% $397,000 + 7.3%
May-2014 $464,250 + 6.1% $417,500 + 5.3%
Jun-2014 $510,000 + 5.2% $439,950 + 6.7%
Jul-2014 $505,000 + 7.4% $419,000 + 7.4%
Aug-2014 $490,000 + 4.3% $419,000 + 3.5%
Sep-2014 $424,900 - 1.5% $414,500 + 4.9%
Oct-2014 $435,302 + 3.6% $394,000 - 0.6%
Nov-2014 $450,000 + 8.4% $414,000 + 4.8%
Dec-2014 $443,500 + 2.0% $425,000 + 4.9%
Jan-2015 $448,500 + 7.3% $441,000 + 10.4%
Feb-2015 $439,500 + 7.9% $403,568 + 3.5%
Median $464,000 + 5.5% $419,000 + 5.5%
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. | 5
$368,250
$337,750
$407,450
$390,000
$439,500
$403,568
Single-Family Condominium
February
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
$600,000
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Median Sales Price Single-Family Condominium
+3.5%+15.5%+10.6%
20152014 20152014
$373,000
$346,000
$410,900
$395,000
$443,048
$425,000
Single-Family Condominium
Year to Date
+7.6%+14.2%+10.2%
20152014 20152014
+7.9% +7.8%
2013 2013 2013 2013

6. Housing Affordability Index
Single-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 101 - 19.2% 103 - 15.3%
Apr-2014 98 - 14.8% 108 - 16.8%
May-2014 95 - 10.5% 106 - 9.8%
Jun-2014 87 - 4.5% 100 - 5.9%
Jul-2014 87 - 7.4% 105 - 7.4%
Aug-2014 90 - 2.9% 106 - 2.2%
Sep-2014 103 + 0.3% 106 - 5.9%
Oct-2014 102 - 3.1% 113 + 1.1%
Nov-2014 99 - 12.1% 108 - 9.1%
Dec-2014 101 - 1.4% 106 - 4.2%
Jan-2015 102 + 0.4% 104 - 2.4%
Feb-2015 104 - 1.4% 114 + 2.8%
Average 98 -6.4% 106 -6.2%
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.
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. | 6
129
140
106
110
104
114
Single-Family Condominium
February
50
60
70
80
90
100
110
120
130
140
150
Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Housing Affordability Index Single-Family Condominium
+2.8%-21.3%-17.9%
127
137
105
109
103
108
Single-Family Condominium
Year to Date
-1.1%-20.4%-17.6%
20152014 20152014 20152014 20152014
-1.4% -1.3%
2013 2013 2013 2013

7. Inventory of Homes for Sale
The number of properties available for sale in active status at the end of a given month.
Single-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 3,072 - 4.3% 1,680 - 12.5%
Apr-2014 3,582 - 2.1% 1,870 - 15.1%
May-2014 4,143 + 3.3% 2,030 - 12.5%
Jun-2014 4,199 + 4.5% 1,995 - 11.8%
Jul-2014 4,120 + 6.4% 1,912 - 8.7%
Aug-2014 3,971 + 4.2% 1,742 - 12.9%
Sep-2014 4,233 + 4.4% 1,930 - 13.3%
Oct-2014 4,080 + 5.0% 1,921 - 10.9%
Nov-2014 3,348 - 0.5% 1,589 - 13.3%
Dec-2014 2,550 - 5.2% 1,204 - 19.6%
Jan-2015 2,337 - 12.6% 1,176 - 21.9%
Feb-2015 1,992 - 29.3% 1,057 - 32.9%
Average 3,469 - 1.0% 1,676 - 14.8%
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. | 7
3,255
1,888
2,817
1,575
1,992
1,057
Single-Family Condominium
February
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Inventory of Homes for Sale Single-Family Condominium
-32.9%-16.6%-13.5%
20152014 20152014
-29.3%
2013 2013

8. 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-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 4.3 + 5.8% 2.4 - 15.5%
Apr-2014 4.2 + 4.6% 2.2 - 16.7%
May-2014 3.4 + 14.0% 2.0 - 2.5%
Jun-2014 2.5 + 8.5% 1.6 - 9.4%
Jul-2014 2.4 + 8.0% 1.6 + 0.9%
Aug-2014 2.6 + 16.4% 1.5 + 2.2%
Sep-2014 4.0 + 11.6% 2.2 - 6.4%
Oct-2014 3.9 + 9.5% 2.2 - 16.5%
Nov-2014 3.5 + 8.1% 2.4 + 1.2%
Dec-2014 2.3 - 8.0% 1.5 - 17.0%
Jan-2015 3.2 - 13.3% 2.5 - 7.0%
Feb-2015 3.6 - 32.7% 2.4 - 31.7%
Average 3.1 - 0.7% 1.9 - 14.3%
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. | 8
6.0
4.1
5.4
3.53.6
2.4
Single-Family Condominium
February
0
2
4
6
8
10
12
14
16
Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Months Supply of Inventory Single-Family Condominium
-31.7%-14.4%-9.1%
20152014 20152014
-32.7%
2013 2013

9. 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-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 89 - 19.9% 69 - 7.3%
Apr-2014 86 - 12.4% 58 - 12.4%
May-2014 65 - 18.9% 51 - 3.0%
Jun-2014 59 - 1.6% 46 + 4.4%
Jul-2014 56 + 12.9% 50 + 23.8%
Aug-2014 60 + 17.1% 52 + 22.9%
Sep-2014 67 + 5.2% 53 + 6.6%
Oct-2014 70 + 12.2% 53 + 9.9%
Nov-2014 75 + 6.1% 57 + 0.5%
Dec-2014 79 + 10.5% 55 - 3.3%
Jan-2015 90 + 10.1% 63 - 3.6%
Feb-2015 105 + 11.4% 76 - 4.8%
Total 71 + 1.5% 53 + 4.4%
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. | 9
114
98
94
80
105
76
Single-Family Condominium
February
30
50
70
90
110
130
150
170
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Days on Market Until Sale Single-Family Condominium
-4.8%-17.8%-17.3%
112
93
87
72
96
69
Single-Family Condominium
Year to Date
-3.5%-22.5%-22.7%
20152014 20152014 20152014 20152014
+11.4% +10.8%
2013 2013 2013 2013

10. Percent of Original List Price Received
Single-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 96.4% + 2.0% 98.7% + 1.4%
Apr-2014 97.4% + 1.2% 99.4% + 0.8%
May-2014 98.2% + 1.0% 100.6% + 1.2%
Jun-2014 98.7% + 0.6% 100.7% + 1.1%
Jul-2014 98.2% + 0.4% 99.8% + 0.1%
Aug-2014 97.8% + 0.1% 99.9% + 0.4%
Sep-2014 96.7% - 0.2% 99.0% + 0.2%
Oct-2014 96.5% - 0.4% 98.6% - 0.1%
Nov-2014 96.3% + 0.2% 98.2% - 0.4%
Dec-2014 95.2% - 0.6% 97.9% + 0.1%
Jan-2015 95.6% + 0.3% 97.8% + 0.7%
Feb-2015 95.1% - 0.7% 97.9% - 0.1%
Average 97.1% + 0.3% 99.3% + 0.5%
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. | 10
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.
93.8% 96.5%95.8% 98.0%95.1% 97.9%
Single-Family Condominium
February
89%
91%
93%
95%
97%
99%
101%
103%
105%
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Percent of Original List Price Received Single-Family Condominium
-0.1%+1.5%+2.1%
93.7% 96.0%95.5% 97.5%95.4% 97.8%
Single-Family Condominium
Year to Date
+0.4%+1.5%+1.9%
20152014 20152014 20152014 20152014
-0.7% -0.1%
2013 2013 2013 2013

11. 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-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 1,255 - 9.3% 1,053 - 13.1%
Apr-2014 1,479 - 10.2% 1,225 - 7.0%
May-2014 1,618 - 7.7% 1,131 - 14.4%
Jun-2014 1,518 - 1.2% 1,143 0.0%
Jul-2014 1,195 - 0.8% 930 - 7.0%
Aug-2014 1,002 - 8.9% 723 - 9.5%
Sep-2014 1,069 + 1.0% 836 + 2.5%
Oct-2014 1,185 + 3.9% 828 - 3.9%
Nov-2014 933 + 5.7% 658 - 1.9%
Dec-2014 676 + 13.6% 459 + 4.6%
Jan-2015 759 + 17.5% 574 - 9.2%
Feb-2015 735 - 7.5% 598 - 19.8%
Total 13,424 - 2.3% 10,158 - 7.3%
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. | 11
821
747
795
746735
598
Single-Family Condominium
February
200
400
600
800
1,000
1,200
1,400
1,600
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical Pending Sales Activity Single-Family Condominium
-19.8%-0.1%-3.2%
1,642
1,4391,441
1,378
1,494
1,172
Single-Family Condominium
Year to Date
-14.9%-4.2%-12.2%
20152014 20152014 20152014 20152014
-7.5% +3.7%
2013 2013 2013 2013

12. New Listings
A count of the properties that have been newly listed on the market in a given month.
Single-Family
YoY
Change
Condominium
YoY
Change
Mar-2014 1,776 + 9.2% 1,305 - 7.2%
Apr-2014 2,242 - 6.5% 1,568 - 11.2%
May-2014 2,479 + 2.8% 1,477 - 9.2%
Jun-2014 1,997 + 7.5% 1,324 + 2.3%
Jul-2014 1,500 + 1.5% 1,063 + 1.1%
Aug-2014 1,266 - 7.3% 778 - 17.8%
Sep-2014 1,840 + 2.2% 1,277 - 3.0%
Oct-2014 1,544 + 5.1% 1,078 0.0%
Nov-2014 799 - 9.5% 598 + 0.2%
Dec-2014 590 + 9.9% 395 + 0.3%
Jan-2015 896 - 4.4% 707 - 10.7%
Feb-2015 700 - 38.7% 615 - 33.7%
Total 17,629 - 1.5% 12,185 - 7.7%
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. | 12
1,196
998
1,141
927
700
615
Single-Family Condominium
February
0
250
500
750
1,000
1,250
1,500
1,750
2,000
2,250
2,500
2,750
Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015
Historical New Listing Activity Single-Family Condominium
-33.7%-7.1%-4.6%
2,316
1,951
2,078
1,719
1,596
1,322
Single-Family Condominium
Year to Date
-23.1%-11.9%-10.3%
20152014 20152014 20152014 20152014
-38.7% -23.2%
2013 2013 2013 2013

13. City of Boston – Market Overview
Key market metrics for the current month and year-to-date figures for the City of Boston.
Key Metrics Historical Sparklines Feb-2014 Feb-2015 + / – YTD 2014 YTD 2015 + / –
- 15.4%
Median Sales Price $472,750 $489,000 + 3.4% $468,750 $488,250 + 4.2%
Closed Sales 244 205 - 16.0% 539 456
- 1.3%
Inventory of Homes for Sale 728 503 - 30.9% -- -- --
Housing Affordability Index 106 104 - 1.4% 105 103
--
Days on Market Until Sale 78 77 - 1.1% 68 67 - 2.1%
Months Supply of Inventory 3.0 2.5 - 17.8% -- --
- 1.0%
Pending Sales 372 314 - 15.6% 685 621 - 9.3%
Percent of Original
List Price Received
98.1% 96.5% - 1.6% 97.7% 96.7%
- 21.4%
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. | 13
New Listings 482 328 - 32.0% 874 687
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015
2-2012 2-2013 2-2014 2-2015