Boston Area Single-Family Housing Market Report 4/23/2021
As indicated above, if you’re looking to buy in the Boston area 20114 zip code, conditions remain favorable. The Sudbury and Wellesley Hills markets are still the hottest markets for sellers. Cambridge and Weston are right behind these areas. Boston proper has maintained a slight seller's advantage as well. Here are all the stats for single-family homes by zip code for the week ending Friday, April 23, 2021.
Boston, MA Single-Family Homes
The week’s median at close of 4/23/2021 list price for houses in Boston sank to $2.5M. The 90 day average climbed to $2.0M, up from $1.9M. the market action index holds at 39, indicating a slight seller’s advantage. The market continues to be at statis. Inventory held nearly steady at 68, a loss of 3 from last week. Markets seem to have begun to cool. If the trend continues it may take a few weeks for prices to adjust and lower and the market to switch to a buyer’s market.
Boston 02114 Zip Code
For the week ending 4/23/2021, the 7 day median list price in 02114 zip code is $3.2M. This is nearly on track with the 90 day average list price of $3.4M. The market action index rose a bit from last week to 28, holding in a slight buyer’s advantage, but creeping towards the tipping point to a seller’s market. Homes sales have exceeded new inventory for a few weeks. If demand holds and inventory remains low we may see increase in pricing soon. Inventory is steady at around 6.
Boston 02116 Zip Code
For the week ending 4/23/2021, the median list price in 02116 held steady from last week to $4.4M. The 90 day average continued its increase to $3.6M. The median action index rose to 37 trending to a greater seller’s advantage. Inventory held steady at around 5. With low inventory and possibly increasing demand we could see prices continue to rise in the coming weeks.
The median list price for the week ending 4/23/2021 as well as the 90 day median price rose to $2.5M. The 90 day average held steady at $2.5M. The market action index rose a point to 48 continuing the trend to a stronger seller’s market. Inventory held steady at around 9. Watch for increasing prices in this zip code.
The Charlestown 02129 market has maintained a seller’s advantage for the past month. The 7 day median list price for the week ending 4/23/2021 jumped to $2.5M. The 90 day average held steady at $2.2M. Inventory also held steady at 9. Home sales continue to outweigh supply. Look for increased prices if the demand continues to exceed inventory in the coming weeks.
Sudbury 01776 has the strongest seller’s advantage in the area with a continued trend of rise of market action index this week from 80 to 82. The 7 day median price dipped to $1.1M. The 90 day average list price has been trending down for the past month and dipped to $1.4M for the week ending 4/23/2021. The 90 day median took just a slight dip from a high of $1.5M two weeks ago. Inventory is up a bit from last week at 22. Since the market is in the seller’s zone prices should level off very soon. If demand continues to outpace inventory, you may see a rise from there.
Wellesley Hills 02481
Wellesley has the 2nd strongest seller’s market in the area with a market action index holding at 74 this past week, an increase from 62 in March. The 7 day median list price has been bouncing around week to week and ended up from down last week to $2.0M. But the 90 day average dipped to $2.8M. Although we saw a rise over the past month this is the same that we saw a month ago. Inventory is holding steady at 11. Expect prices to plateau and if demand continues to exceed inventory rise after that.
The Market Action Index in Weston held steady at 43 for a slight buyer’s market for the week ending with 4/23/2021 in Weston. This week’s 7 day median price dipped to $3.8M but the 90 day average held steady at $3.8M. The market in this area continues the trend into a stronger seller’s market. Prices will likely continue to trend higher.
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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