Is Boston, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$807,012
$653/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Boston have sold for 4% more than they did a year ago.
Summary: The median home sold price in Boston was $807,012 in April 2024, up 4% from last year, and the median price per square foot was $653.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $595.7K | $589K | -1.1% |
| 2 Bedrooms | $731.8K | $775.4K | +5.9% |
| 3 Bedrooms | $799.9K | $821.5K | +2.7% |
| 4 Bedrooms | $901.2K | $917.5K | +1.8% |
| 5+ Bedrooms | $1.0M | $1.0M | +2.2% |
Summary: Boston housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Chestnut Hill | $1.2M | $1.4M | +14.3% |
| Brookline | $1.1M | $1.2M | +6.2% |
| Boston | $776.2K | $807K | +4.0% |
| Dorchester Center | $680.8K | $707.5K | +3.9% |
Housing Supply in Boston, MA
How many homes are available in Boston, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,654 | 2,072 | +25.3% |
Summary: The Boston real estate market had 2,072 homes for sale in April 2024, a 25.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 307 | 418 | +36.2% |
| 2 Bedrooms | 611 | 798 | +30.6% |
| 3 Bedrooms | 371 | 427 | +15.1% |
| 4 Bedrooms | 151 | 183 | +21.2% |
| 5+ Bedrooms | 214 | 246 | +15.0% |
Summary: The Boston housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.2%, 2 bedroom homes increased by 30.6%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 15%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 311 | 351 | +12.9% |
Asking Price vs. Sold Price
159 Homes Were Sold
Under Asking
64 Homes Were Sold
At Asking
128 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boston, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
Summary: A total of 351 homes were sold or pending in Boston in April 2024, up by 12.9% month-over-month. Of the 351 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 41 Days | -12.3% |
Summary: Homes in Boston had an average of 41 days on market in Apr 2024, down by 12.3% compared to last year.
Breakdown of Home Sale Times
233 Homes Were Sold
Under 30 Days
73 Homes Were Sold
In 30 - 90 Days
45 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 April 2024, 351 homes were sold in Boston; 66% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
