Boston Area Single-Family, Condo, and Townhome Real Estate Market Report 5/17/2021
If you’re looking for a condo or townhome in Wellesley Hills, you’re in luck. This is the only buyer’s advantage space in the greater Boston, MA real estate market. Hurry though, inventory is low. All other markets in the Boston, MA area have tipped to seller’s advantages. The Sudbury and Wellesley Hills home markets are still the hottest markets for sellers. Charlestown is right behind these areas. Here are the latest for single-family, condos, and townhomes by zip code for the week ending Friday, May 14, 2021.
Boston, MA Single-Family Homes
The week’s median list price at close of 5/14/2021 for single-family homes is $2.45M (dotted green lines to right). The 90 day average inched up to $2.3M, up from $2.2M last week (solid green lines to right). The market action index (MAI) stands at 39, indicating a continued slight seller’s advantage. The inventory rose a bit from last week, 74 units to 79. The market in Boston seems to be at a stasis although house prices have been rising since February.
Boston, MA Condos and Townhomes Homes
Like single-family homes, condo and townhome prices have been trending up since February in Boston. The MAI indicates a slight seller’s advantage at 41. This week’s median list price is $959k which is on par with the 90 day average. Inventory rose a bit (5%) to 916. Townhome sales continue to outweigh demand so expect continued increase in price and more seller’s advantage.
Boston 02119 Zip Code Single-Family Homes
This week’s median list price in Boston 02119 jumped to $629,900 (dotted green lines below). The 90 day average dipped again to $629K (solid green line below). The MAI held steady from last week at 46 but is down from last month’s 50, indicating the market is cooling. Inventory held steady at 5. As more homes become available prices may dip more sending this area closer to a stronger buyer’s market.
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 $580,000 which has been trending down since December of last year. The MAI is 50, still in a seller’s market. Inventory has increased to 20.
Cambridge 02138 Single-Family Homes
The median list price for the week ending 5/14/2021 dipped slightly to $1.9M and 90 day median price dropped as well to $2.1M. The MAI moved to 51 indicating a seller’s market. Inventory held steady from last week at 9. Single-family home prices have been flat to trending down since December but we may see an increase if demand continues to rise.
Cambridge 02138 Condos and Townhomes
The median list price for the week ending 5/14/2021 ended at $1,050,000. The 90 day average held steady at $1.0M. The market action index climbed to 62 indicating a strong seller’s market. Inventory increased to 31. Inventory is still sufficiently low to keep this area in a seller’s market. If demand increases expected prices to rise as well.
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 5/14/2021 is $1.5M and the 90 day average held at $1.3M. The MAI jumped is at 62. Inventory continues to be steady at 6. More demand is causing upward pressure on house prices, a trend we’ve seen in this area 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 5/14/2021 is $638,450 and the 90 day is just above that at $690,000. With low inventory the market action index rose a point to 62, but inventory did increase by 2 to 34. 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 an MAI rise of 1 to 86. The 7 day median price is $1.5M with 90 day average at $1.3M at close of 5/14/2021. Inventory is down 3 from last week to 16. 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 at 77 for the past three weeks. The 7 day median list price has been bouncing around week to week and ended up from last week at $2.995M. The 90 day average matched last week’s at $2.8M. Prices have been trending down since March as inventory grew. Inventory decreased to 13 this week, down 2.
Wellesley Hills 02481 Condos and Townhomes
The condos and townhome market is Wellesley Hills is the opposite of the single-family home market. With prices trending down since December, this is a buyer’s market. The 7 day median list price for the week ending 5/14/2021 is $649,000 which is the same as the 90 day average. Inventory is low however at 1.
Weston 02493 Single-Family Homes
The Market Action Index in Weston rose again this week from 47 to 50 continuing the trend into a stronger seller’s market. This week’s 7 day median is $4.5M (dotted green line below). The 90 day average held at $4.1M (solid green line below). Inventory is down one to 30 and sales have been outstripping demand. Watch for continued upward trends in housing prices if demand continues to increase.
Weston Condos and Townhomes 02493
Prices for condos and townhomes in Weston trended up the past two weeks with a 90 day average at $2.5M. The 7 day median ended at $2.0M for the week 5/14/2021. The MAI is hovering at 40, down from last month’s MAI of 46. Inventory increased to 3. Prices have plateaued and which way the market trends depends on demand in the area.
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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