April 2021 Market Update: Boston

woman sitting on bench

Key takeaways for the month

The Boston area is experiencing increased competition in single family homes and continued activity in the suburbs. 

  • Prices are up for single family homes in the city. The median sale price for Boston single family homes jumped 51.0% month over month. List prices also increased 7.6% and the number of listings increased 30.3%, indicating that sellers are confident in the current market. 
  • Single family homes in the suburbs see high competition. Days on market held steady month over month at 15, a swift pace for the area, and -21.1% lower than the pre-pandemic April 2019 number of 19 days. Compared to pre-pandemic activity, April saw a similar number of homes listed compared to 507 in April 2019, but 13.8% more going pending compared to 382 in April 2019. 
  • Accordingly, suburban single family homes see rising prices. With sale-to-list price ratio at a multi-year high, and up 2.0% month over month and 4.5% year over year, buyers are competing for single family homes in the suburbs. Likewise, median list price increased 7.5% month over month, and 20.5% year over year and over two years (2020 and 2019 matched at $829,000).

Sale Price

List Price

Sale Price Compared to List Price

Days on Market

Number of Properties Listed

Number of Properties Pending Sale

Metropolitan Boston data is for the city of Boston excluding 02119,02121,02124,02130,02126,02131,02136,02132; Cambridge; and Somerville.

Boston Suburbs data is for Malden, Medford, Quincy, Weymouth, Watertown, Brookline, Newton, Lexington, Winchester, Belmont, and Arlington.

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