Boston Area Single-Family Housing Market Report 5/3/2021 PLUS Condo and Townhome April Market Report
Almost all markets in the Boston, MA area have tipped to seller’s advantages. The Sudbury and Wellesley Hills markets are still the hottest markets for sellers. Cambridge and Weston are right behind these areas. Here is the latest for single-family, condos, and townhomes reports by zip code for the week ending Friday, April 30, 2021.
Boston, MA Single-Family Homes
The week’s median list price at close of 4/30/2021 for houses in Boston dipped to $2.3M. The 90 day average climbed to $2.1M, up from $2.0M. The market action index (MAI) holds at 39, indicating a slight seller’s advantage. Inventory increased a bit to 71, a gain of 3 from last week. Markets seem to be holding steady. Inventory continues to be low keeping this area in a seller’s market.
Boston, MA Condos and Townhomes Homes
Condo and townhome prices have been trending up since January in Boston. The MAI indicates a slight seller’s advantage at 41. This week’s median list price is $950k which is on par with the 90 average. Inventory is up ever so slightly to 914.
Boston 02116 Zip Code Single-family Homes
For the week ending 4/30/2021, the median list price in 02116 held steady from last week at $4.3M. The 90 day average continued its increase to $3.7M. The market action index (MAI) is 40, a jump from last month’s close of 33. Inventory is up 1 to 6. With low inventory and possibly increasing demand we could see prices continue to rise in the coming weeks.
Boston 02116 Zip Code Condos and Townhomes
Condo and townhomes sellers in 02116 have an ever so slight advantage with a MAI at 36. This is about the same as last month’s. The week’s median list price is $2.2M, which is just above the 90 day average of $2.1M. Prices have been increasing since January with demand high and inventory low. Inventory rose slightly this week to 111.
Boston 02119 Zip Code Single-Family Homes
This week’s median list price in Boston 02119 is $580,000. The 90 day average is $742,000. The MAI is 49, only down a point from last month’s MAI of 50. This area continues to be in solid seller’s market territory. Inventory decreased to 5. With low inventory prices are likely to trend up in the coming weeks.
Boston 02119 Zip Code Condos and Townhomes
This week’s median list price in Boston 02119 is $529,000. The 90 day average is about $590,000 which has been trending down all month. The MAI is 49, still in strong seller’s market territory. Inventory increased to 19 and with demand dropping you could continue to see a dip in prices in this market.
Cambridge 02138 Single-Family Homes
The median list price for the week ending 4/30/2021 as well as the 90 day median price rose to $2.5M. The MAI rose a point to 48 continuing the trend to a stronger seller’s market. Inventory dipped 1 to 8. Watch for increasing prices in this zip code.
Cambridge 02138 Condos and Townhomes
The median list price for the week ending 4/30/2021 rose to $1.2M. The 90 day average held steady at $1.0M. The market action index hovers around 61 in this area, down 1 point from March. Inventory increased to 29 and prices seem to be cooling as the 90 day average has been flat for several weeks. Demand and inventory will dictate where trends go from here.
Charlestown 02129 Single-Family Homes
The Charlestown 02129 market has maintained a seller’s advantage for the past month. The 7 day median list price for the week ending 4/30/2021 is $1.4M with 90 day average at $1.2M. The MAI is 59, a big jump over last month’s MAI of 44. Inventory continues to be low at 6. Look for rising house prices in the coming weeks.
Sudbury 01776 Single-Family Homes
Sudbury 01776 has the strongest seller’s advantage in the area with a continued trend of rise of market action index this week from 82 to 85, up from last month’s MAI of 73. The 7 day median price is $1.3M. The 90 day average list price has been trending down for the past month and dipped to $1.4M for the week ending 4/30/2021. Inventory decreased to 18. 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 Single-Family Homes
Wellesley has the 2nd strongest seller’s market in the area with a market action index rising to 77 this past week. The 7 day median list price has been bouncing around week to week and ended up from down last week to $2.9M. The 90 day average dipped to $2.8M. Although we saw a rise over the past month this is the same as March's end. Inventory decreased to 9. With the seller’s market and demand higher than inventory we expect rise in prices.
Wellesley Hills 02481 Condos and Townhomes
The 7 day median list price has been bouncing around week to week and ended up from down last week to $2.9M. The 90 day average matches this. Prices for condos and townhomes rose through March but have taken a dip in May. The MAI is still a strong seller's market at 77. Inventory has decreased to 9 so watch for potentially rising prices with high demand and low inventory.
Weston Single-Family Homes
The Market Action Index in Weston rose to 45 continuing the trend into a stronger seller’s market. This week’s 7 day median is $4.3M. The 90 day average rose to $4.1M. Prices will likely continue to trend higher.
Questions? Looking for another area report? Want to buy or sell? Contact me.
Catherine Bassick Fine Homes and Estates
Senior Global Real Estate Advisor
Brokered by EXP Realty
MA LIC# 9558155
CA DRE# 01380305
• Sold The First Single Family Home Over $100 Million in U.S. History
• America's Top 250 Real Estate Professionals & Top 100 Agents in the U.S. - Wall Street Journal
• Best-Selling Author Of Luxury Home Selling Mastery
• "Top 40 Influential Business Women" - Business Journal
• Certified Luxury specialist, Christie’s