Is Boston, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Boston has remained a Seller's Market.
Key Takeaway
Boston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Boston, MA
How much do homes in Boston, MA cost?
Median Sold Price
$806,120
$652/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Boston have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Boston was $806,120 in June 2024, up 3.3% from last year, and the median price per square foot was $652.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $595K | $583.2K | -2.0% |
| 2 Bedrooms | $749K | $769.9K | +2.8% |
| 3 Bedrooms | $800.2K | $826.7K | +3.3% |
| 4 Bedrooms | $920.2K | $925K | 0.5% |
| 5+ Bedrooms | $1.0M | $1.1M | +4.7% |
Summary: Boston housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Boston | $780.4K | $806.1K | +3.3% |
| Brookline | $1.1M | $1.1M | -0.8% |
| Chestnut Hill | $1.2M | $1.2M | -1.2% |
| Dorchester Center | $696.3K | $685K | -1.6% |
Housing Supply in Boston, MA
How many homes are available in Boston, MA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2,268 | 2,229 | -1.7% |
Summary: The Boston real estate market had 2,229 homes for sale in June 2024, a 1.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 451 | 444 | -1.6% |
| 2 Bedrooms | 867 | 844 | -2.7% |
| 3 Bedrooms | 487 | 483 | -0.8% |
| 4 Bedrooms | 189 | 186 | -1.6% |
| 5+ Bedrooms | 274 | 272 | -0.7% |
Summary: The Boston housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 1.6%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 0.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 483 | 457 | -5.4% |
Asking Price vs. Sold Price
203 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
188 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boston, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 457 homes were sold or pending in Boston in June 2024, down by 5.4% month-over-month. Of the 457 sold homes, 44% were sold under asking, 14% were sold at asking, and 41% were sold over asking.
Days on Market for Boston, MA
How long does it take to sell a home in Boston, MA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 33 Days | 37 Days | +12.3% |
Summary: Homes in Boston had an average of 37 days on market in Jun 2024, up by 12.3% compared to last year.
Breakdown of Home Sale Times
293 Homes Were Sold
Under 30 Days
127 Homes Were Sold
In 30 - 90 Days
37 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Boston are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 457 homes were sold in Boston; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
