June 2021 highlights
The peak season is bringing small month-over-month changes, as the entire region is operating under a “new normal” with median sale prices outpacing the past two years.
- Condos in the metro area saw traction. The median sale price for condos in Boston fluctuated down 1% but, at $775,000, remains up 8% year over year and hoevers above the June 2019 pre-pandemic level of $770,000. Days on market rose, but stayed in line with expectations at this peak time of year. The number of condos listed jumped 27% month over month and sale-to-list price ratio hopped up 1% to hit 100% for the first time in years.
- Single family home competition stayed high in the suburbs. Median sale price rose 6% to top $1M, a 27% year-over-year increase and 29% over the June 2019 median of $795,000. Median list price dropped 10%, indicating that sellers may be using a strategy of listing low to encourage competition that drives up sale price. At the same time, 22% more homes were listed month over month, indicating that not all homes hitting the market saw equal competition, but the best ones were very competitive and drove up the median numbers.
Our research team explored the competition facing homebuyers in select 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.