Housing market report for March 2022: Boston

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March 2022 real estate highlights

Home prices in Boston were up nearly 25% at $1,175,000 in March, from $940,000 in February. The Boston area suburbs experienced a similar rate of increase when homes there rose from $880,000 to $1,070,000. Homes were also selling faster in both areas than the previous month as competition increases going into the warmer months. Inventory was flat in the Boston area, as well where 27 new homes were listed in March while 40 existing homes on the market were sold.

See previous months’ highlights

Sale price

The median sale price for a home in Boston was $1,175,000, up from $940,000 the previous month. This is a 25% increase and the highest price of the year.


List price

The average seller in Boston listed their home for $1,699,000 in March—the highest average list price of the year and up 30% since February.

Sale prices were an average of 6% above listing price in Boston and 8% above listing price in the suburbs. This sale-to-list-price ratio is the highest it's been all year.


Inventory

In Boston, more homes were sold than listed between February and March, making inventory low and competition high. In the suburbs, inventory was also low.


Competition

See Boston listings

Competition report

Our research team analyzed the competition in select local areas.




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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