February 2022 highlights
Following a predicted slow-down in the market at the end of last year, the housing market in Boston began to pick up again heading into the end of winter. Both single-family home and condo sale prices were up, bringing them closer in line to their list price. Meanwhile, single-family homes sold in half as much time in February as the previous month as inventory slid downward.
- Housing prices rose up to approach their previous peak At $1.2 million, houses in Boston were crept back up closer to their previous $1.4 million peak. This month’s increase was a nearly 13% increase from $1,150,000 in February.
- Homes sold almost as fast as they did during peak summer and autumn months last year At 22 days, the average days-on-market for single-family homes was almost as low as its previous low point of 21 days last October. This was a nearly 50% increase from 47 days the previous month.
- Condos were also selling quickly The average days-on-market for a condo in Boston plummeted from 70 to 21 in February. Competition for a condo increased due to lower inventory and a rising sale-to-list-price ratio.
- Sellers in the suburbs adjusted their listing strategy Sellers listed their homes for less than they did the previous month. In January, homes sold for below the list price so sellers adjusted downward to fall in line with a recovering sale price.
Our research team analyzed the competition in select local areas.
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.