Is 02116, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 02116 was a Seller's Market.
Key Takeaway
02116 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 02116, MA
How much do homes in 02116, MA cost?
Median Sold Price
$1,557,500
$1,283/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02116 have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in 02116 was $1,557,500 in March 2024, up 7.8% from last year, and the median price per square foot was $1,283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $729.5K | $850K | +16.5% |
| 2 Bedrooms | $1.4M | $1.6M | +16.1% |
| 3 Bedrooms | $2.8M | $3.1M | +12.4% |
| 4 Bedrooms | $3.9M | $4.7M | +20.5% |
| 5+ Bedrooms | $3.6M | $3.5M | -2.1% |
Summary: 02116 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes decreased by 2.1%.
Housing Supply in 02116, MA
How many homes are available in 02116, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 118 | 146 | +23.7% |
Summary: The 02116 real estate market had 146 homes for sale in March 2024, a 23.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 38 | +46.2% |
| 2 Bedrooms | 48 | 61 | +27.1% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 02116 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 46.2%, 2 bedroom homes increased by 27.1%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 18 | +80.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02116, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 02116 in March 2024, up by 80.0% month-over-month. Of the 18 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for 02116, MA
How long does it take to sell a home in 02116, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 45 Days | -18.8% |
Summary: Homes in 02116 had an average of 45 days on market in Mar 2024, down by 18.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02116 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in 02116; 61% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
