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August 9, 2021 Real Estate Market Report for Boston Area Single-Family Homes, Condos, and Townhomes

 

Boston area housing markets are a mixed bag with demand rising in some areas and dipping in others. Here’s all you need to know for this week.

 

Boston, MA Single-Family Homes

For July the Market Action Index (MAI), a gauge of where the market is headed, matched June’s close of 42, indicating a slight seller’s advantage. An MAI of 30 or below signals a buyer’s advantage market. This week the MAI dipped to 41 in Boston. The week’s median list price for single-family homes ended at $1.19M. The 90-day average dipped $1k to $1.9M. Inventory decreased to 86, down 2 from last week. This home market has been cooling and prices dropping since mid-July.

 

Boston, MA Condos and Townhomes Homes

MAI held steady at 41 this week indicating a slight seller’s advantage. The week’s median list price landed at $888k and 90-day average dipped a bit to $928k. Inventory decreased to 834. The market is at a relative stasis as far as supply and demand. But supply is sufficiently low to keep this market in the seller’s zone. If demand holds expect prices to resume their upward climb.

 

Boston 02115 Single-Family Homes

The MAI for 02115 jumped two more points from last week to close at 27. Prices had been falling but plateaued in July. Last week’s median list price in Boston 021115 landed at $6.9M. The 90-day average, which has been declining since April, rose to $6.3M. Inventory decreased 1 to 6. Home sales have been exceeding new inventory for several weeks. Watch for upward pricing pressure if demand holds and inventory stays low, tipping the market to a seller’s advantage.

 

 

Boston 02115 Condos and Townhomes

Last week’s median list price in Boston 02115 closed at $924k. The 90-day average has been steady through July and closed last week at $898k. The MAI held from last week at 35, indicating a slight seller’s advantage. Inventory decreased 3 to 50. Prices plateaued in June and have been flat through July. Demand and inventory will dictate MAI and pricing changes.

 

Boston 02116 Single-Family Homes

The MAI for the first week of August held from the July close at 36, a slight seller’s advantage. Last week’s median ended at $5.45M. The 90-day average rose $1k to $5.9M. Inventory held at 7. Inventory has been sufficiently low to keep this area in a seller’s market. If demand wanes further it would be expected that prices will follow.

 

Boston 02116 Condos and Townhomes

The MAI close this week matched July close at 35, indicating a slight seller’s advantage. Last week’s median list price was $1.56M and 90-day average dipped to $2.1M. Inventory decreased 3 to 108. This market has been cooling and prices plateaued. Demand and inventory will dictate future pricing trends.

 

Cambridge 02138 Single-Family Homes

The MAI in Cambridge 02138 for single family homes exceeded July’s increase to rise to 74, indicating a strong seller’s market. Last week’s median list price was $2.249M. The 90-day median price held at $2.0M. Inventory decreased 1 to 6. Home sales have been exceeding supply for several weeks putting this area in a strong seller’s market. Look for upward pricing pressure if demand holds.

 

Cambridge 02138 Condos and Townhomes

The MAI held steady from last week at 67, indicating a strong seller’s market. The 7 day median list price landed at $789k last week for condos in this zip code. The 90-day average dipped again to $893k. Prices had been on a general upward trend since December but plateaued in June and dipped in the past four weeks. Inventory decreased 1 to 32. This market had been at a stasis over the past few weeks. Watch for upward pricing pressure if demand holds and inventory remains low.

 

Newton, MA Single-Family Home Market

Newton’s MAI for single-family houmes dropped 16 points from June’s end to close at 61 for July. But this week it ticked up 7 points to 68. This indicates a strong seller’s market. The 7 day median closed at $1.85M and 90-day average held at $1.8M. Inventory decreased by 1 to 5. Prices had been trending down since April, but started to rise in July.

 

 

Newton, MA Condo and Townhome Market

Month to month the MAI of 63 remained unchanged for Newton’s condo and townhouse market, as it did for the first week of August. This indicated a strong seller’s market. The 7 day median list price was $9.5k and the 90-day average held steady at $1.0M. Inventory decreased 5 to 11. Prices have been slowly rising since January. If inventory increases expect these to plateau along with the MAI.

 

Wellesley 02482 Single-Family Homes

Wellesley single-family homes continued to stay in a seller’s market but the MAI slipped to 59, still a strong seller’s market. We are seeing a cooling trend and prices falling since May. The 7 day median price landed at $1.295M and 90-day dipped to $1.8M. Inventory increased to 13.

 

Wellesley 02482 Condos and Townhomes

The MAI rose to 40, at a slight seller’s advantage. This week the median list price for Wellesley, MA 02482 is $1.9M. The 90-day rose to $1.7M. Inventory decreased to 7. Demand in this area continues to hold and prices have been rising as a consequence.

 

Wellesley Hills 02481 Single-Family Homes

Wellesley single-family homes continued to stay in a seller’s market, but the MAI dipped to 60, for the close of July and held there this week. The 7 day median price landed at $2.695M and 90-day average held at $2.0M. Inventory decreased 1 to 15. The market cooled in the past weeks with inventory outnumbering sales.

 

Wellesley Hills 02481 Condos and Townhomes

The MAI rose this week to 35, indicating a slight seller’s advantage. This week the median list price for Wellesley Hills, MA 02481 is $1.1M. The 90-day average rose to $940k. Inventory decreased to 2. Home sales have been exceeding new inventory. Expect further upward pricing pressure if demand holds.

 

Weston, MA 02493 Single-Family Homes

The MAI is steady from last week at 43, indicating a slight seller’s advantage. The week’s median price for single-family homes in Weston 02493 was $3.9M and the 90-day average dipped to match it. Prices have been falling since late June. Inventory decreased 3 to 33.

 

Weston, MA 02493 Condos and Townhomes

The MAI for condos and townhomes jumped to 37 this week, putting this market in the seller’s zone. The 7 day median ended at $2.1M. The 90-day average dipped to $2.0M. Inventory held at 2. In the past few weeks, the MAI has resumed its climb. If demand holds look for upward pricing pressure.

 

Values depend on many factors. If you’re thinking of buying or selling call me to explore comparable homes.

Catherine Bassick Fine Homes and Estates

Senior Global Real Estate Advisor

http://catherinebassick.com

Brokered by EXP Realty

617.800.7764

MA LIC# 9558155

CA DRE# 01380305

 

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