The document provides an overview of housing market indicators for the Greater Boston region in August 2015. Key points include: - Closed home sales increased 13.5% year-over-year for single-family homes and 4.6% for condominiums. - The median sales price was up 2.0% to $499,900 for single-family homes and 9.8% to $460,000 for condominiums. - Inventory levels decreased with months supply of inventory down 23.3% for single-family homes and 17.5% for condominiums.

1. Monthly IndicatorsA RESEARCH TOOL PROVIDED BY THE GREATER BOSTON ASSOCIATION OF REALTORS®
August 2015 Quick Facts
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9
10
11
12
13
Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of September 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.
+ 13.5%
Year-Over-Year
(YoY) Change in
Closed Sales
Single-Family Only
Home prices were up during summer across the nation in year-over-year
comparisons. With the economy on full mend, Federal Reserve Chair Janet
Yellen has predicted a fine-tuning of monetary policy before the year ends. In
tandem with the improved economy, the unemployment rate for July 2015
remained at 5.3 percent for the second month in a row. It is widely believed that
interest rates will go up before the year is over. Generally, this does not happen
without careful consideration for the impact such a move will have on residential
real estate.
New Listings in the Greater Boston region were up 14.0 percent for single-
family homes and 17.1 percent for condominiums. Closed Sales increased 13.5
percent for single-family homes and 4.6 percent for condominiums.
The Median Sales Price was up 2.0 percent to $499,900 for single-family
properties and 9.8 percent to $460,000 for condominiums. Months Supply of
Inventory decreased 23.3 percent for single-family units and 17.5 percent for
townhouse-condo units.
Statistics released by the U.S. Census Bureau and the Department of Housing
and Urban Development indicate that privately-owned housing starts in July
2015 rose 10.1 percent compared to last year to the highest level the market
has seen since October 2007. This bodes well for the eventual landing of a flock
of potential buyers currently holding in a rental pattern. As ideal summer
weather diverges toward autumn, we will begin to see some seasonal
relaxation, but the market should still look positive when compared to last year.
+ 4.6%
Year-Over-Year
(YoY) Change in
Closed Sales
Condominium Only
+ 9.6%
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 Aug-2014 Aug-2015 + / – YTD 2014 YTD 2015 + / –
97.6% 98.0%
+ 4.0%
+ 0.4%
Percent of Original
List Price Received
Days on Market Until Sale
97.8%
+ 2.9%
+ 0.5%
61
98.2%
Pending Sales
Median Sales Price
+ 9.9%10,421995 1,302 + 30.9% 9,484
- 13.0% -- --
- 1.0% 94 91 - 2.9%
--
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory 2.7
$490,000 + 4.0%
60
90 89
71
-- -- --
4,021 3,500
2.0 - 23.3%
$499,900 + 2.0% $471,000
68
9,378 + 4.5%
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. | 2
New Listings 1,267 1,445 + 14.0% 13,339 13,766 + 3.2%
Closed Sales 1,516 1,720 + 13.5% 8,970
$490,000
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015

3. Condominium Market Overview
Key market metrics for the current month and year-to-date figures for Condominium Properties Only.
Key Metrics Historical Sparklines Aug-2014 Aug-2015 + / – YTD 2014 YTD 2015 + / –
- 2.0%
Median Sales Price $419,000 $460,000 + 9.8% $417,000 $450,000 + 7.9%
Closed Sales 1,138 1,190 + 4.6% 7,179 7,035
- 6.4%
Inventory of Homes for Sale 1,758 1,516 - 13.8% -- -- --
Housing Affordability Index 106 97 - 8.0% 106 99
--
Days on Market Until Sale 52 46 - 12.5% 56 51 - 9.5%
Months Supply of Inventory 1.5 1.3 - 17.5% -- --
+ 0.7%
Pending Sales 721 842 + 16.8% 7,574 7,842 + 3.5%
Percent of Original
List Price Received
99.9% 100.5% + 0.6% 99.6% 100.3%
+ 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. | 3
New Listings 777 910 + 17.1% 9,234 9,470
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015

4. Closed Sales
A count of the actual sales that have closed in a given month.
Single-Family
YoY
Change
Condominium
YoY
Change
Sep-2014 1,067 - 6.3% 862 - 7.5%
Oct-2014 1,047 - 3.9% 864 + 6.9%
Nov-2014 960 - 7.8% 651 - 14.2%
Dec-2014 1,116 + 3.2% 811 - 2.9%
Jan-2015 742 + 1.4% 480 - 15.5%
Feb-2015 554 + 6.5% 449 - 0.2%
Mar-2015 711 - 0.1% 579 - 16.3%
Apr-2015 787 - 8.7% 677 - 21.9%
May-2015 1,083 - 10.2% 948 - 5.1%
Jun-2015 1,872 + 11.2% 1,374 + 8.3%
Jul-2015 1,909 + 9.8% 1,338 + 11.9%
Aug-2015 1,720 + 13.5% 1,190 + 4.6%
Total 13,568 + 1.9% 10,223 - 2.8%
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. | 4
1,694
1,335
1,516
1,138
1,720
1,190
Single-Family Condominium
August
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
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 Closed Sales Activity Single-Family Condominium
+4.6%-14.8%-10.5%
20152014 20152014
9,539
7,592
8,970
7,179
9,378
7,035
Single-Family Condominium
Year to Date
-2.0%-5.4%-6.0%
20152014 20152014
+13.5% +4.5%
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
Sep-2014 $424,900 - 1.5% $414,500 + 4.9%
Oct-2014 $435,000 + 3.6% $394,500 - 0.5%
Nov-2014 $450,000 + 8.4% $415,000 + 5.1%
Dec-2014 $443,500 + 2.0% $425,000 + 4.9%
Jan-2015 $446,000 + 6.7% $442,500 + 10.8%
Feb-2015 $438,500 + 7.6% $407,135 + 4.4%
Mar-2015 $432,500 + 1.3% $449,000 + 6.9%
Apr-2015 $470,000 + 6.8% $438,500 + 10.5%
May-2015 $480,000 + 3.4% $456,325 + 9.3%
Jun-2015 $526,655 + 3.3% $459,500 + 4.5%
Jul-2015 $525,000 + 4.0% $460,000 + 9.8%
Aug-2015 $499,900 + 2.0% $460,000 + 9.8%
Median $473,500 + 4.2% $440,000 + 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. | 5
$470,000
$405,000
$490,000
$419,000
$499,900
$460,000
Single-Family Condominium
August
$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
+9.8%+3.5%+4.3%
20152014 20152014
$440,000
$390,000
$471,000
$417,000
$490,000
$450,000
Single-Family Condominium
Year to Date
+7.9%+6.9%+7.0%
20152014 20152014
+2.0% +4.0%
2013 2013 2013 2013

6. Housing Affordability Index
Single-Family
YoY
Change
Condominium
YoY
Change
Sep-2014 103 + 0.3% 106 - 5.9%
Oct-2014 102 - 3.0% 113 + 1.0%
Nov-2014 99 - 12.1% 108 - 9.3%
Dec-2014 101 - 1.4% 106 - 4.2%
Jan-2015 103 + 1.0% 103 - 2.7%
Feb-2015 105 - 1.2% 113 + 1.9%
Mar-2015 105 + 3.4% 101 - 2.0%
Apr-2015 97 - 0.3% 104 - 3.6%
May-2015 96 + 0.4% 101 - 5.0%
Jun-2015 86 - 1.1% 98 - 2.3%
Jul-2015 84 - 3.1% 96 - 8.2%
Aug-2015 89 - 1.0% 97 - 8.0%
Average 98 -1.5% 104 -4.0%
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
93
108
90
106
89
97
Single-Family Condominium
August
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
-8.0%-2.2%-2.9%
99
112
94
106
91
99
Single-Family Condominium
Year to Date
-6.4%-5.4%-5.5%
20152014 20152014 20152014 20152014
-1.0% -2.9%
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
Sep-2014 4,301 + 5.9% 1,951 - 12.4%
Oct-2014 4,185 + 7.5% 1,961 - 9.0%
Nov-2014 3,499 + 3.7% 1,640 - 10.6%
Dec-2014 2,771 + 2.7% 1,289 - 13.9%
Jan-2015 2,634 - 1.8% 1,300 - 13.7%
Feb-2015 2,425 - 14.3% 1,239 - 21.4%
Mar-2015 2,593 - 16.0% 1,379 - 18.0%
Apr-2015 3,310 - 8.1% 1,741 - 7.0%
May-2015 3,829 - 8.1% 1,911 - 6.2%
Jun-2015 3,932 - 7.1% 1,863 - 7.0%
Jul-2015 3,818 - 8.2% 1,725 - 10.4%
Aug-2015 3,500 - 13.0% 1,516 - 13.8%
Average 3,400 - 4.7% 1,626 - 11.6%
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. | 7
3,820
2,001
4,021
1,758
3,500
1,516
Single-Family Condominium
August
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
-13.8%-12.1%+5.3%
20152014 20152014
-13.0%
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
Sep-2014 4.0 + 13.0% 2.3 - 5.3%
Oct-2014 4.0 + 11.8% 2.3 - 14.9%
Nov-2014 3.6 + 12.5% 2.5 + 4.3%
Dec-2014 2.5 - 0.6% 1.6 - 11.3%
Jan-2015 3.5 - 3.1% 2.7 + 2.1%
Feb-2015 4.4 - 19.6% 2.8 - 21.2%
Mar-2015 3.6 - 15.9% 2.4 - 2.0%
Apr-2015 4.2 + 0.7% 2.6 + 19.0%
May-2015 3.5 + 2.3% 2.0 - 1.1%
Jun-2015 2.1 - 16.5% 1.4 - 14.1%
Jul-2015 2.0 - 16.4% 1.3 - 19.9%
Aug-2015 2.0 - 23.3% 1.3 - 17.5%
Average 3.1 - 1.3% 1.9 - 6.0%
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
2.3
1.5
2.7
1.5
2.0
1.3
Single-Family Condominium
August
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
-17.5%+3.1%+17.6%
20152014 20152014
-23.3%
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
Sep-2014 67 + 5.4% 53 + 6.3%
Oct-2014 70 + 12.5% 53 + 10.0%
Nov-2014 75 + 6.8% 57 + 0.5%
Dec-2014 79 + 11.2% 55 - 2.9%
Jan-2015 90 + 10.7% 63 - 3.8%
Feb-2015 105 + 11.2% 78 - 2.2%
Mar-2015 100 + 12.9% 69 - 0.4%
Apr-2015 90 + 4.7% 59 + 1.2%
May-2015 71 + 9.0% 47 - 8.4%
Jun-2015 60 + 2.0% 42 - 9.6%
Jul-2015 54 - 3.6% 41 - 19.4%
Aug-2015 61 + 2.9% 46 - 12.5%
Total 72 + 5.6% 50 - 5.1%
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. | 9
51
42
60
52
61
46
Single-Family Condominium
August
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
-12.5%+22.9%+17.1%
74
56
68
56
71
51
Single-Family Condominium
Year to Date
-9.5%-0.5%-8.2%
20152014 20152014 20152014 20152014
+2.9% +4.0%
2013 2013 2013 2013

10. Percent of Original List Price Received
Single-Family
YoY
Change
Condominium
YoY
Change
Sep-2014 96.7% - 0.2% 99.0% + 0.2%
Oct-2014 96.5% - 0.4% 98.5% - 0.1%
Nov-2014 96.3% + 0.2% 98.2% - 0.4%
Dec-2014 95.3% - 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%
Mar-2015 96.2% - 0.2% 98.6% - 0.2%
Apr-2015 97.2% - 0.2% 100.3% + 1.0%
May-2015 98.8% + 0.6% 100.8% + 0.2%
Jun-2015 99.2% + 0.5% 101.6% + 0.8%
Jul-2015 99.1% + 1.0% 101.1% + 1.3%
Aug-2015 98.2% + 0.5% 100.5% + 0.6%
Average 97.5% + 0.2% 99.7% + 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.
97.6% 99.5%97.8% 99.9%98.2% 100.5%
Single-Family Condominium
August
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
+0.6%+0.4%+0.1%
96.8% 98.8%97.6% 99.6%98.0% 100.3%
Single-Family Condominium
Year to Date
+0.7%+0.8%+0.9%
20152014 20152014 20152014 20152014
+0.5% +0.4%
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
Sep-2014 1,058 0.0% 836 + 2.5%
Oct-2014 1,171 + 2.8% 823 - 4.5%
Nov-2014 916 + 3.9% 654 - 2.5%
Dec-2014 651 + 9.4% 447 + 1.8%
Jan-2015 718 + 11.3% 558 - 11.7%
Feb-2015 667 - 15.9% 568 - 23.9%
Mar-2015 1,156 - 7.8% 985 - 6.5%
Apr-2015 1,588 + 7.7% 1,271 + 3.8%
May-2015 1,775 + 9.9% 1,282 + 13.7%
Jun-2015 1,835 + 21.1% 1,369 + 20.0%
Jul-2015 1,380 + 15.8% 967 + 4.2%
Aug-2015 1,302 + 30.9% 842 + 16.8%
Total 14,217 + 8.0% 10,602 + 2.3%
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
1,100
799
995
721
1,302
842
Single-Family Condominium
August
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
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 Pending Sales Activity Single-Family Condominium
+16.8%-9.8%-9.5%
10,259
8,229
9,484
7,574
10,421
7,842
Single-Family Condominium
Year to Date
+3.5%-8.0%-7.6%
20152014 20152014 20152014 20152014
+30.9% +9.9%
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
Sep-2014 1,839 + 2.2% 1,277 - 3.0%
Oct-2014 1,547 + 5.4% 1,080 + 0.2%
Nov-2014 796 - 9.9% 599 + 0.3%
Dec-2014 590 + 9.7% 396 + 0.8%
Jan-2015 894 - 4.6% 709 - 10.5%
Feb-2015 697 - 38.9% 616 - 33.5%
Mar-2015 1,545 - 13.0% 1,253 - 4.0%
Apr-2015 2,525 + 12.6% 1,745 + 11.3%
May-2015 2,586 + 4.3% 1,617 + 9.5%
Jun-2015 2,359 + 18.1% 1,547 + 16.8%
Jul-2015 1,715 + 14.5% 1,073 + 0.8%
Aug-2015 1,445 + 14.0% 910 + 17.1%
Total 18,538 + 2.8% 12,822 + 1.6%
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. | 12
1,366
947
1,267
777
1,445
910
Single-Family Condominium
August
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
+17.1%-18.0%-7.2%
13,454
10,042
13,339
9,234
13,766
9,470
Single-Family Condominium
Year to Date
+2.6%-8.0%-0.9%
20152014 20152014 20152014 20152014
+14.0% +3.2%
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 Aug-2014 Aug-2015 + / – YTD 2014 YTD 2015 + / –
- 2.4%
Median Sales Price $450,000 $525,000 + 16.7% $469,350 $510,000 + 8.7%
Closed Sales 594 605 + 1.9% 3,693 3,604
- 2.9%
Inventory of Homes for Sale 856 726 - 15.2% -- -- --
Housing Affordability Index 90 89 - 1.0% 94 91
--
Days on Market Until Sale 42 44 + 4.1% 49 48 - 1.9%
Months Supply of Inventory 1.4 1.2 - 16.7% -- --
+ 0.4%
Pending Sales 335 417 + 24.5% 3,867 3,989 + 3.2%
Percent of Original
List Price Received
99.6% 100.0% + 0.4% 99.6% 100.0%
+ 0.4%
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 381 439 + 15.2% 4,797 4,816
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015
8-2012 8-2013 8-2014 8-2015