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. Charlestown is right behind these areas. Here is the latest for single-family, condos, and townhomes reports by zip code for the week ending Friday, May 7, 2021.
Boston, MA Single-Family Homes
The week’s median list price at close of 5/7/2021 for single-family homes landed at $2.7M. The 90 day average climbed to $2.2M, up from $2.1M last week. The market action index (MAI) rose to 40, indicating more of a seller’s advantage as price increases continue their three month trend due to low inventory. Inventory increased to 75 indicating prices could level off.
Boston, MA Condos and Townhomes Homes
Like single-family 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 $969k which is on par with the 90 average. Inventory is steady at about 885.
Boston 02119 Zip Code Single-Family Homes
This week’s median list price in Boston 02119 is $580,000. The 90 day average dipped to $720K. The MAI is down again for the second week in a row to 46 indicating the market is cooling. Inventory held steady at 5. As home homes become available prices may dip sending this area closer to a buyer’s market. As more homes become available this may send prices even lower.
Boston 02119 Zip Code Condos and Townhomes
This week’s median list price in Boston 02119 is $539,450. The 90 day average is about $590,000 which has been trending December of last year. The MAI is 50, still in a seller’s market. Inventory is about the same at 18.
Cambridge 02138 Single-Family Homes
The median list price for the week ending 5/7/2021 as well as the 90 day median price ended at $2.5M. The MAI dipped to 46 indicating a cooling of the market in this area. Inventory held at 8. The market seems to be a relative plateau in this area. Outlook depends and demand and inventory in the coming weeks.
Cambridge 02138 Condos and Townhomes
The median list price for the week ending 5/7/2021 ended at $1,074,500. The 90 day average held steady at $1.0M. The market action index slipped one point to 60. Inventory is about the same at 28. Prices have been flat for the past several weeks. If inventory rises watch for downward pressure on prices.
Charlestown 02129 Single-Family Homes
The Charlestown 02129 market is one of the strongest seller’s markets in the area. The 7 day median list price for the week ending 5/7/2021 is $1.5M and the 90 day average rose again to $1.3M. The MAI jumped to 64, a rise from last month’s MAI of 50. Inventory continues to be steady at 6. Look for rising house prices in the coming weeks as has been the trend since March.
Charlestown 02129 Condos and Townhomes
As for single-family homes, the Charlestown 02129 market is one of the strongest seller’s markets in the area. However prices for condos and townhomes have been falling since last October. The 7 day median list price for the week ending 5/7/2021 is $699,000 and the 90 day is the same. With low inventory the market action index held at 61 which is down slightly from last month’s MAI of 63. Inventory has increased to 32. This market has been at relative stasis. If demand increases look for prices to trend up.
Sudbury 01776 Single-Family Homes
Sudbury 01776 has the strongest seller’s advantage in the area with a continued trend of strong seller’s market with MAI of 85. The 7 day median price is $1.3M with 90 day average to match for the week ending 5/7/2021. Inventory increased 1 to 19. Since the market is in the seller’s zone prices should level off very soon. Home sales have been exceeding new inventory for several weeks but prices haven’t leveled off. Expect to see that trend and increases in price if demand begins to outstrip inventory.
Sudbury 01776 Condos and Townhomes
Sudbury condo and townhome sales remain in a seller’s market as well with an MAI of 48. This is a rise from last month’s MAI of 40. Demand is low at around 1 which is causing prices to plateau and possibly trend up in the coming weeks.
Wellesley Hills 02481 Single-Family Homes
Wellesley has the 2nd strongest seller’s market in the area with a market action index hovering around 77 for the past two weeks. The 7 day median list price has been bouncing around week to week and ended down from last week at $2.1M. The 90 day average matched last week’s at $2.8M. Prices have been trending down since March as inventory grew. Inventory increased again to 15 for the week ending 5/7/2021. Home sales have started to exceed inventory. Should sales trend continue expect to see prices climb again.
Weston Single-Family Homes
The Market Action Index in Weston rose again this week to 47 continuing the trend into a stronger seller’s market. This week’s 7 day median is $4.4M. The 90 day average held at $4.1M. Inventory increased to 31 but sales have been outstripping demand. Watch for upward trends in housing prices if demand continues to increase.
Weston Condos and Townhomes
The condo and townhome market in Weston matches that of single-family home sales. The 7-day median price was $3.1M for the week ending 5/7/2021. The 90 day average is up a bit to $2.5M. Prices have fallen a bit since March but we may see this market level off and prices even trend up if inventory remains low. Inventory is 2 this week.
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
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