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August 16, 2021 Real Estate Market Report for Boston Area Single-Family Homes, Condos, and Townhomes

August 16, 2021 Real Estate Market Report for Boston Area Single-Family Homes, Condos, and Townhomes

 

Boston area housing markets are cooling in most areas but several show continued or increased demand. Here’s all you need to know for this week.

 

Boston, MA Single-Family Homes

The week’s 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. The week’s median list price for single-family homes ended at $1.7M. The 90-day average dipped $2k to $1.7M. Inventory decreased to 78. This home market has been at a stasis in terms of sales to inventory although prices are continuing to drop.

 

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 $850k and 90-day average dipped a bit to $919k. Inventory decreased to 814. This market started cooling and prices have been falling slowly since June.

 

Boston 02115 Single-Family Homes

The MAI for 02115 held at 27, indicating a slight buyer’s advantage. 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 is also at a stasis at $6.3M. Inventory held steady at 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 $872k. The 90-day average has been steady through July and closed last week at $896k. The MAI rose 1 point from last week to 36, indicating a slight seller’s advantage. Inventory decreased 2 to 48. 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 held at 36, a slight seller’s advantage. Last week’s median ended at $5.47M. The 90-day average rose $1k to $6.0M. Inventory decreased 1 to 6. 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 rose 1 point to 36, indicating a slight seller’s advantage. Last week’s median list price was $2.0M and 90-day average held at $2.1M. Inventory decreased 8 to 100. This market is at a stasis with respect to sales and inventory.

 

Cambridge 02138 Single-Family Homes

The MAI in Cambridge 02138 for single family homes exceeded July’s increase to rise to 75, 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 2 to 4. 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 dropped 1 point from last week to 66, still a strong seller’s market. The 7-day median list price landed at $825k last week for condos in this zip code. The 90-day average dipped again to $875k. 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 has been cooling in recent weeks.

 

Newton, MA Single-Family Home Market

Newton’s MAI for single-family homes dropped to 61, but still indicates a seller’s market. The 7-day median closed at $1.85M and 90-day average held at $1.8M. Inventory decreased by 1 to 6. Prices had been trending down since April but started to rise in July.

 

 

Newton, MA Condo and Townhome Market

The MAI dipped 4 points to 59, down from 63 at July’s close.  This is still a seller’s market. The 7-day median list price was $1.125M and the 90-day average held steady at $1.0M. Inventory held steady at 11. The market has been cooling and we’ve seen prices plateau in recent weeks.

 

Wellesley 02482 Single-Family Homes

Wellesley single-family homes continued to stay in a seller’s market but the MAI slipped to 57, still a strong seller’s market. The 7 day median price landed at $1.612M and 90-day dipped to $1.7M. Inventory decreased to 12.

 

Wellesley 02482 Condos and Townhomes

The MAI rose to 42, a slight seller’s advantage market. This week the median list price for Wellesley, MA 02482 is $1.85M. The 90-day rose to $1.8M. Inventory decreased to 6. 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 54. The 7-day median price landed at $1.972M and 90-day average dipped to $1.9M. Inventory decreased 1 to 14. The market cooled in the past weeks with inventory outnumbering sales.

 

Wellesley Hills 02481 Condos and Townhomes

The MAI held from last week at 35, indicating a slight seller’s advantage. This week the median list price for Wellesley Hills, MA 02481 is $1.132M. The 90-day average rose to $984k. Inventory held at 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 down from last week at 41, although still indicating a slight seller’s advantage. The week’s median price for single-family homes in Weston 02493 was $3.5M and the 90-day average rose to $3.9M. Prices have been falling since late June. Inventory increased to 36.

 

Weston, MA 02493 Condos and Townhomes

The MAI for condos and townhomes held at 37, indicating a slight seller’s advantage. The 7-day median ended at $999k. The 90-day average dipped to $1.9M. Inventory increased 1 to 3. 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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