APRIL2016

Boston Metro

National Home Values

Current:
$187,000
Monthly Change:
0.3%
Quarterly Change: 1.2%
Annual Change:
4.9%
Negative Equity*: 13.1%
Boston Home Values
Current:
$390,300
Monthly Change:
0.1%
Quarterly Change: 1.1%
Annual Change:
5.5%
Negative Equity*: 7.1%
Home Values Forecast
(next 12 months)

National:
Boston Metro:

2.4%
1.2%

Esri, HERE, DeLorme, MapmyIndia, OpenStreetMap contributors, and the GIS user community

City ZHVI Year-over-Year

Major Cities - Home Values

Boston
Current:
Monthly Change:
Annual Change:

$489,200
0.3%
5.5%

Lowell
Current:
Monthly Change:
Annual Change:

$230,900
0.1%
3.6%

Cambridge
Current:
Monthly Change:
Annual Change:

$654,000
0.1%
9.3%

Newton
Current:
Monthly Change:
Annual Change:

$891,600
0.1%
9%

Brockton
Current:
Monthly Change:
Annual Change:

$224,500
0%
7%

-5.5%

-5.4% - -1.2% -1.1% - -0.5% -0.4% - 0.0%

Home Values (ZHVI)

Increasing Values:
Decreasing Values:
Fall From Peak:
Peak ZHVI Date:
Peak ZHVI:
Sales
Median Sale Price:
Monthly Change:
Annual Change:
Sale Price/Sq. Ft.:
Sale-to-list Price Ratio:
Sold for a Loss/Gain:
Foreclosures
Homes Foreclosed:
Monthly Change:
Annual Change:
Foreclosure Resales:
Monthly Change:
Annual Change:

0.0% - 2.0%

2.1% - 3.9%

4.0% - 5.6%

5.7% - 7.9%

68%
22.9%
0%
2016-04
$390,300

Rent
Zillow Rent Index:
Monthly Change:
Annual Change:
Rent List Price:
Rent List/Sq. Ft.:

$314,900
3.7%
-4.3%
$191

9.5%/90.5%

Listings
Median List Price:
Monthly Change:
Annual Change:
List Price/Sq. Ft.:
Listings with Price Cut:
Amount of Price Cut:

/10, 000

%
pp
pp

* Negative equity data is from 2015Q4.

www.zillow.com/research/

8.0% - 15.1%

$2,273
0.6%
5.3%
$2,530
$2.7

$434,900
%
%
$246
12.5%
3.1%

How do we track home values? To

track home values, we use the Zillow
Home Value Index (ZHVI). The ZHVI is
the mid-point of estimated home values
for the area. Half the estimated home
values are above this number and half
are below.

APRIL2016

2,564
2,499
1,753
3,037
2,569
2,216
1,764
1,545
1,903

0.9
0.6
1.2
-0.2
-0.3
0.2
-0.2
0.3
0.6

3.1
1.2
3.4
0.5
-1.3
0.6
1.6
2.2
2.3

2.6
1.8
12.7
2.7
-1
4.2
7.3
5.2
9.4

2,158
2,354
1,835
3,017
2,055
2,270
2,321
2,437
2,445
2,210

0.1
0.1
-0.4
0.2
1
0.4
0.3
-0.3
-0.3
-0.6

-0.2
0
0.9
1.4
-0.1
0.8
2.2
-0.2
-0.2
0.2

3.9
4.3
4.1
3.5
1.7
3.6
2.9
2.9
2.6
4.5

617,462.5
498,097.8
228,056.2
759,825
670,641.1
359,946.6
264,217.5
210,946.3
232,255
273,381.2
363,308.5
457,784.6
297,193.9
909,674.1
368,241.2
383,066.5
327,358.2
558,393.7
473,557.8
329,791.7

1.5
1.8
1.6
2.2
2.5
1.8
1
1.4
0.6
1.6
1.5
1.5
1.6
2
1.4
1
2.3
2.5
1
0.9

2009
2009
2012
2008
2008
2011
2012
2012
2011
2012
2011
2009
2012
2010
2012
2012
2011
2009
2011
2012

Negative Equity (%)

-0.0
0.0
-18.6
-0.3
0.0
-6.8
-11.4
-13.1
-10.6
-7.1
0.0
0.0
-7.8
0.0
-2.3
-0.1
0.0
0.0
0.0
-5.3

Home Value Bottom

2016-03
2016-04
2005-12
2016-02
2016-04
2005-07
2005-10
2005-11
2005-11
2005-10
2016-04
2016-04
2005-10
2016-04
2005-05
2016-03
2016-04
2016-04
2016-04
2005-05

Forecast YoY (%)

Change from Peak (%)

608,500
489,200
275,900
745,400
654,000
379,600
295,200
239,400
258,300
289,900
358,000
450,900
317,200
891,600
372,000
379,600
320,000
544,700
468,900
345,100

Forecast ZHVI ($)

Peak Month

5.3
5.5
7
6.9
9.3
8.1
4
3.7
3.6
4.8
6.4
6.4
6.1
9
6
4.8
8.2
7.8
5.4
5.4

ZRI YoY (%)

ZHVI Peak ($)

0.7
1.7
1
0.1
1.4
2.3
0.2
0.7
0.3
0.5
1.8
1.1
1.1
0.8
0.7
0
1.3
1.9
0.9
0.3

ZRI QoQ (%)

ZHVI YoY (%)

0
0.3
0
-0.2
0.1
0.5
-0.2
0.1
-0.1
-0.3
0.4
0.1
0
0.1
-0.1
-0.1
0.1
0.3
0.3
0.1

ZRI MoM (%)

ZHVI QoQ (%)

608,400
489,200
224,500
743,500
654,000
353,700
261,500
208,000
230,900
269,200
358,000
450,900
292,500
891,600
363,300
379,300
320,000
544,700
468,900
326,700

Rents- ZRI ($)

ZHVI MoM (%)

Arlington
Boston
Brockton
Brookline
Cambridge
Framingham
Haverhill
Lawrence
Lowell
Lynn
Malden
Medford
Methuen
Newton
Peabody
Quincy
Revere
Somerville
Waltham
Weymouth

Home Values- ZHVI ($)

Largest Cities Covered by Zillow

Q2
Q2
Q1
Q2
Q2
Q4
Q1
Q1
Q4
Q2
Q3
Q2
Q1
Q3
Q1
Q1
Q3
Q2
Q4
Q1

3.4
9.4
17.9
5.7
8.0
8.2
10.1
16.4
10.4
10.6
8.0
5.9
9.2
3.5
5.5
8.0
8.3
8.1
6.2
7.4

Q1
Q4
Q1
Q1
Q2
Q1
Q2

6.9
5.6
6.1
8.1
8.3
14.2
9.6

ZHVI YoY (%)

ZHVI Peak ($)

Peak Month

Change from Peak (%)

Rents- ZRI ($)

ZRI MoM (%)

ZRI QoQ (%)

ZRI YoY (%)

Forecast ZHVI ($)

Forecast YoY (%)

-0.1
0.1
-0.1
-0.1
0.3
0.4
0.2

0.6
1
-0.3
0.7
1.6
1.7
1.6

5.2
5.4
3.7
5.3
5.2
2.4
5.4

380,800
450,400
424,600
370,000
308,400
239,900
451,500

2005-06
2016-04
2016-01
2005-12
2006-03
2005-11
2016-04

-2.7
0.0
-0.3
-10.6
-8.0
-14.7
0.0

2,027
2,410
2,439
1,929
1,815
1,657
2,472

1.4
0.2
0.3
1
0.3
-0.4
0.6

1.7
1
1
0
-1.2
-0.2
1.3

4.6
5
4.3
5.9
0.2
9.2
2.4

375,286.9
455,702.8
429,841.7
334,962.3
287,239
205,408.6
458,898.1

1.2
1.2
1.5
1.3
1.2
0.4
1.6

2012
2011
2012
2012
2012
2013
2009

Negative Equity (%)

ZHVI QoQ (%)

370,700
450,400
423,500
330,600
283,700
204,600
451,500

Home Value Bottom

ZHVI MoM (%)

Essex
Middlesex
Norfolk
Plymouth
Rockingham
Strafford
Suffolk

Home Values- ZHVI ($)

Largest Counties Covered by Zillow

*The top 20 largest cities and top 10 (or all) counties within the metro are listed. Additional counties, cities, neighborhoods and ZIP codes may be
available online at www.zillow.com/research/data by emailing press@zillow.com

Zillow
Research:

Zillow R is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place
they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and
analytics bureau led by Zillows Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing
data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations
Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home
Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in
local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), and
headquartered in Seattle.

www.zillow.com/research/