Is Boston, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$803,954
$650/sqft
Based on all homes sold in the last 12 months.
Difference Since March 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 $803,954 in March 2024, up 3.3% from last year, and the median price per square foot was $650.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $597.5K | $599.3K | 0.3% |
| 2 Bedrooms | $738.8K | $774.9K | +4.9% |
| 3 Bedrooms | $801.8K | $819.1K | +2.2% |
| 4 Bedrooms | $918.9K | $909K | -1.1% |
| 5+ Bedrooms | $1.0M | $1.0M | -0.8% |
Summary: Boston housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Brookline | $1.1M | $1.2M | +9.6% |
| Boston | $778.6K | $803.9K | +3.3% |
| Chestnut Hill | $1.2M | $1.3M | 0.4% |
| Dorchester Center | $694.5K | $686.9K | -1.1% |
Housing Supply in Boston, MA
How many homes are available in Boston, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,419 | 1,676 | +18.1% |
Summary: The Boston real estate market had 1,676 homes for sale in March 2024, a 18.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 254 | 316 | +24.4% |
| 2 Bedrooms | 502 | 624 | +24.3% |
| 3 Bedrooms | 320 | 371 | +15.9% |
| 4 Bedrooms | 133 | 148 | +11.3% |
| 5+ Bedrooms | 210 | 217 | +3.3% |
Summary: The Boston housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 24.4%, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 206 | 294 | +42.7% |
Asking Price vs. Sold Price
136 Homes Were Sold
Under Asking
64 Homes Were Sold
At Asking
94 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boston, you may be able to get a good deal. 46.3% of homes here sold below asking price last month.
Summary: A total of 294 homes were sold or pending in Boston in March 2024, up by 42.7% month-over-month. Of the 294 sold homes, 46% were sold under asking, 22% were sold at asking, and 32% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 41 Days | -18.1% |
Summary: Homes in Boston had an average of 41 days on market in Mar 2024, down by 18.1% compared to last year.
Breakdown of Home Sale Times
182 Homes Were Sold
Under 30 Days
71 Homes Were Sold
In 30 - 90 Days
41 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 March 2024, 294 homes were sold in Boston; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
