January 2021 Market Update: Boston

architectural photography of red and brown house

Key takeaways for the month

The Boston area market started 2021 slightly slow, but an increase in activity is indicated for February. 

  • City condo prices continue a trend. While single-family median home price dropped 21.32% month over month, that dip is likely due to the small number of homes sold rather than a drastic increase in competition. Condos saw a median sale price drop of a relatively small 9.27% paired with almost flat days on market month-over month, following a usual trend of slowness in December and January. Typically, competition increases in February. 
  • City condo inventory may be growing. Month over month, the number of condos listed increased 122.41% while the number pending shrunk by 32.71%. Taken together, this could be a sign that there is some softening in the condo market–more are available, but fewer are selling. February will be a telling month. 
  • Suburban prices jumped. Both single-family homes and condos saw increased median sale prices month over month and year over year. Likewise, list price increased as is expected at the start of the year.

Competition snapshot

Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.

Sale Price

List Price

Sale Price Compared to List Price

Days on Market

Number of Properties Listed

Number of Properties Pending Sale

Number of Properties Sold

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.

Thinking about buying a home?

Start your Flyhomes real estate experience.

Buy my home

Sell my home

Buy and sell