Is Boston, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Boston is a neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Boston was a Seller's Market.

Key Takeaway

Boston is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Boston, MA

How much do homes in Boston, MA cost?

Median Sold Price

$800,004

$649/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$23,887(+3.1%)

Key Takeaway

Homes in Boston have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in Boston was $800,004 in January 2024, up 3.1% from last year, and the median price per square foot was $649.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $597K$596.4K
-0.1%
2 $734.5K$772.6K
+5.2%
3 $800.4K$817K
+2.1%
4 $915.5K$903.7K
-1.3%
5+ $1.0M$1.0M
-1.5%

Summary: Boston housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.1%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 1.5%.

Median Sold Price Compared To Nearby Cities

Brookline
+3.6%
Chestnut Hill
+3.4%
Boston
+3.1%
Dorchester Center
-1.9%

Housing Supply in Boston, MA

How many homes are available in Boston, MA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
1,1041,222+10.7%

Summary: The Boston real estate market had 1,222 homes for sale in January 2024, a 10.7% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 169210
+24.3%
2 375414
+10.4%
3 260278
+6.9%
4 109120
+10.1%
5+ 191200
+4.7%

Summary: The Boston housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 24.3%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 4.7%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
296200-32.4%

Asking Price vs. Sold Price

122 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

52 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Boston, you may be able to get a good deal. 61% of homes here sold below asking price last month.

Summary: A total of 200 homes were sold or pending in Boston in January 2024, down by 32.4% month-over-month. Of the 200 sold homes, 61% were sold under asking, 13% were sold at asking, and 26% 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

Jan 2023Jan 2024CHANGE
47 Days59 Days+25.7%

Summary: Homes in Boston had an average of 59 days on market in Jan 2024, up by 25.7% compared to last year.

Breakdown of Home Sale Times

76 Homes Were Sold
Under 30 Days

88 Homes Were Sold
In 30 - 90 Days

36 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Boston has remained consistent over time.

Summary: During January 2024, 200 homes were sold in Boston; 38% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Boston, MA

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