March 2021 Market Update: Boston

gray concrete pathway between green trees during daytime

Key takeaways for the month

More buyers have entered the Boston-area market and some homes are seeing high levels of competition. 

  • Suburban homes are more expensive and more are selling. In the suburbs, median sale price for single family homes is up 12% year-over-year and the number of homes pending is up 69%. 
  • Some suburban homes are staying on the market much longer than the median. The number of single family homes listed is up year-over-year, but by a relatively small 19% compared to the 69% increase in the number of homes pending. This indicates that some of the homes going pending are inventory that has rolled over from previous months. Meanwhile, the median days on market is down 14% year over year to 15 days. 
  • More condos in the city are selling. The number of condos pending is up 81% year-over-year, while the number listed is up 68%. These properties are selling in a median of 28 days, which is slightly slower (17%) than last year’s median of 24 days. 

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

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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