Key takeaways for the month
The market reflects the peak season for competition with Boston condo prices increasing and buyers in the suburbs competing for all property types. Single family homes in the city experienced a decrease in overall competition but homes that saw offers brought in a sale-to-list price ratio of 102%, the first jump above 100% for the area since July of last year.
- Condo sales heated up. In Boston, median sale prices for condos increased 4% to $785,000. A similar 4% rise for suburban condos landed at $647,500. Meanwhile, single family home prices stayed flat in the suburbs and decreased -3% in Boston.
- Single family homes in Boston saw decreased competition overall. While Boston single family homes pending increased 52% month over month, the increase was due to leftover April listings on the market. New listings increased by only 2%. Median days on market decreased 8%. However, sale-to-list price ratio rose to 102% (from 99%), showing that the homes that received offers saw strong competition.
- Buyers in the suburbs faced competition. Both single family homes and condos in the suburbs saw decreases in the number of new listings available. Median days on market fell 7% to 14 days for single family homes and stayed flat at 18 days for condos. Sale-to-list price ratio increased 1% for single family homes and 2% for condos, indicating multiple offer scenarios.
Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.
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.