Boston Area Single-Family Housing Market Report 4/2/2021
Overall the Wellesley Hills, Weston, and Cambridge markets are the hottest markets for sellers right now. Boston proper has maintained a slight seller's advantage as well. Those looking for homes in the 02108, 02114, and 02116 zip codes in Boston still have a slight advantage. Here are all the stats for single-family homes by zip code for the week ending Friday, April 2, 2021.
Boston, MA Single-Family Homes
After taking a deep hit last week, the week’s median list price for houses in Boston rose to $2.05M with 90 day average also up slightly at $2.0M. With the market action index increasing from 39 to 40, the market maintains a slight seller’s advantage. Since February we have seen average prices continue to increase. Although inventory held steady, prices may begin to drop if we see influx of homes being offered for sale. Inventory held steady at 62.
Boston 02108 Zip Code
After taking a slight dip last week, this week’s median list price rose to $10.35M in the 02108 zip code, with the 90 day average rising as well to $10.0M. Buyers still maintain a slight advantage with market action index at 22. Inventory also held steady at 10. Although more homes have entered the market these have tended to be larger, newer homes which kept the median list price trending up.
Boston 02114 Zip Code
For the week ending 4/2/2021, the median list price in 02114 zip code rose slightly to $3.82M. The ninety day median list price rose only slightly to $3.3M. March ended with a market action index of 24, an increase over last month’s closing at 22. Still the buyer’s advantage holds and market is slow in this area with inventory around 6, relatively unchanged along with prices.
Boston 02116 Zip Code
For the week ending 4/2/2021, the median list price in 02116 rose ever so slightly to $3.7M for the seven day average and $3.3M for the 90 day average. The median action index rose to 33, showing a very slight seller’s advantage and tipping the scales from last month’s closing of 25, being a slight buyer’s advantage. The market in this zip code has been warming in recent weeks becoming more of a seller’s advantage with prices showing evidence of moving up with lower levels of inventory of only around 4.
The median list price for the week ending 4/2/2021 as well as the 90 day median price held steady at $1.9M and $2.1M, respectively. The market action index is 47, a strong seller’s market. Market in this area has been cooling with prices holding steady. Inventory is the same at about 3.
In Newton 02458 zip code the 7 day median and 90 day median list price are $2.2M. With a market action index of 53, ever so slightly lower than last month’s, this area remains a strong seller’s market. Inventory is steady at 4. The market seems to be cooling a bit with an influx of homes and lowering demand. It may take a few weeks for prices to reflect and begin to fall with decreased demand.
Wellesley Hills 02481
Wellesley has the strongest seller’s market in the area with a market action index at 65, an increase from February’s of 60. The 7 day median list price has been bouncing around week to week and ended down from last week at $3.0M. But the 90 day median list price has continued to climb since December to $2.9M. This market is only getting hotter, with more demand and lower inventory leading to increasing prices. This shows no signs of changing with inventory holding steady at 11.
This week’s 7 day median income of $4.2M is back on track for Weston after last week’s dip. The 90 day median income continues to rise reaching $4.0M. The market action index in Weston shows a slight seller’s advantage at 43, up from February’s 35. The market in this area continues to heat up with demand rising and inventory holding steady at 28 but trending down. We expect no signs of prices changing from their current trend.
Questions? Looking to buy or sell? Contact me.
Catherine Bassick Fine Homes and Estates
Senior Global Real Estate Advisor
Brokered by EXP Realty
CA DRE# 01380305
MA LIC# 9558155
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