2021 SECOND QUARTER
Market Insights
2021 | 2ND QUARTER MARKET INSIGHTS
Move beyond your expectations. Spring and summer of 2021 emerged as very strong markets in almost all of Massachusetts’ communities and for nearly all property types. We would be remiss if we didn’t first thank our agents and employees for taking such great care of our clients and communities throughout the last 18 months. We also want to thank you, our clients. You place your trust in us and we will always do our best to earn it again and again. Last year at this time we were all figuring out how to live in a global pandemic; how to operate our businesses; how to take care of ourselves and our families. I don’t think anyone could have predicted that the pandemic would drive a housing market boom in the suburban and second home markets. One year ago, our urban centers, Boston and Cambridge, saw condominium sales slow down, as building associations and local officials enacted strict rules for densely populated areas. We are pleased to say that those markets have rebounded and we are seeing a fast-moving market with rising prices. Some have asked us why the market is so imbalanced -- why we are experiencing such a “seller’s market”. The reasons are many, including a lack of adequate building starts for the last 10 years, mortgage rates at such incredible lows, “empty-nesters” aging in place, and peak housing formation years for the next generation of home buyers. Regardless of the reasons, the market has risen and it’s a great time to sell your home. Please reach out to any of our agents to learn what your home is worth in today’s market.
2021 | 2ND QUARTER MARKET INSIGHTS
14 Walnut Street, Boston | Listed for $12,690,000 by Rebecca Davis Tulman
Source: MLSpin. For the purpose of this report, core neighborhoods include Back Bay, Bay Village, Beacon Hill, Charlestown, Leather District, Midtown, North End, South Boston, South End, Theatre District, Waterfront and the West End.
Boston Single Family Q2 Market Insights* Median Sale Price
Listing Inventory
$1,527,500
59
+ 8% Year over Year
- 12% Year over Year
The Median Sale Price for SF homes in Boston has increased 8% to $1,527,500, up from $1,411,000 in Q2 2020.
The Listing Inventory of SF homes in Boston has decreased 12% to 59, down from 67 in Q2 2020.
Median Days to Offer
Number of Sold Properies
7 Days
52
- 13% Year over Year
+ 136% Year over Year
The Median Days to Offer for SF homes in Boston has decreased 13% to 7 days, down from 8 days in Q2 2020.
The Number of Sold SF homes in Boston has increased 136% to 52, up from 22 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
250 Boylston Street U:3A, Boston | Listed for $7,200,000 by George Ballantyne
Source: MLSpin. For the purpose of this report, core neighborhoods include Back Bay, Bay Village, Beacon Hill, Charlestown, Leather District, Midtown, North End, South Boston, South End, Theatre District, Waterfront and the West End.
Boston Condo Q2 Market Insights* Median Sale Price
Listing Inventory
$855,000
544
- 2% Year over Year
- 15% Year over Year
The Median Sale Price for Condos in Boston has decreased 2% to $855,000, down from $872,500 in Q2 2020.
The Listing Inventory of Condos in Boston has decreased 15% to 544, down from 636 in Q2 2020.
Median Days to Offer
Number of Sold Properties
11 Days
815
- 8% Year over Year
+ 125% Year over Year
The Median Days to Offer for Condos in Boston has decreased 8% to 11 days, down from 12 days in Q2 2020.
The Number of Sold Condos in Boston has increased 125% to 815, up from 362 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
5 Wright Street, Cambridge | Listed for $2,480,000 by Lindsay Allison and Lisa May
Source: MLSpin
Cambridge Single Family Q2 Market Insights Median Sale Price
Listing Inventory
$1,850,000
12
+ 21% Year over Year
- 43% Year over Year
The Median Sale Price for SF homes in Cambridge has increased 21% to $1,850,000, up from $1,525,000 in Q2 2020.
The Listing Inventory of SF homes in Cambridge has decreased 43% to 12, down from 21 in Q2 2020.
Median Days to Offer
Number of Sold Properties
7 Days
43
0% Year over Year
+ 105% Year over Year
The Median Days to Offer for SF homes in Cambridge is the same as Q2 2020.
The Number of Sold SF homes in Cambridge has increased 105% to 43, up from 21 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
378 Norfolk Street U:378, Cambridge | Listed for $1,198,000 by Lauren Holleran Team
Source: MLSpin
Cambridge Condo Q2 Market Insights Median Sale Price
Listing Inventory
$845,000
74
+ 8% Year over Year
- 20% Year over Year
The Median Sale Price for condos in Cambridge has increased 8% to $845,000, up from $780,000 in Q2 2020.
The Listing Inventory of Condos in Cambridge has decreased 20% to 74, down from 92 in Q2 2020.
Median Days to Offer
Number of Sold Properties
7 Days
235
0% Year over Year
+ 120% Year over Year
The Median Days to Offer for Condos in Cambridge is the same as Q2 2020.
The Number of Sold Condos in Cambridge has increased 120% to 235, up from 107 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
15 Saint James Court, Belmont | Listed for $4,200,000 by Susan Condrick
Source: MLSpin. For the purpose of this report, Greater Boston includes Arlington, Belmont, Brookline, Cambridge, Concord, Lexington, Milton, Newton, Somerville, and Watertown.
Greater Boston Single Family Q2 Market Insights
Median Sale Price
Listing Inventory
$875,000
438
+ 18% Year over Year
- 25% Year over Year
The Median Sale Price for SF homes in Greater Boston has increased 18% to $875,000, up from $740,145 in Q2 2020.
The Listing Inventory of SF homes in Greater Boston decreased 25% to 438, down from 583 in Q2 2020.
Median Days to Offer
Number of Sold Properties
6 Days
1,442
- 14% Year over Year
+ 64% Year over Year
The Median Days to Offer for SF homes in Greater Boston has decreased 14% to 6 days, down from 7 days in Q2 2020.
The Number of Sold SF homes in Greater Boston has increased 64% to 1,442, up from 878 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
2 Adrian Street - Unit Front, Somerville | Listed for $1,548,000 by Lauren Holleran Team and Max Dublin
Source: MLSpin. For the purpose of this report, Greater Boston includes Arlington, Belmont, Boston, Brookline, Cambridge, Concord, Lexington, Milton, Newton, Somerville, and Watertown.
Greater Boston Condo Q2 Market Insights
Median Sale Price
Listing Inventory
$700,000
1,614
+ 8% Year over Year
- 5% Year over Year
The Median Sale Price of Condos in Greater Boston has increased 8% to $700,000, up from $650,000 in Q2 2020.
The Listing Inventory of Condos in Greater Boston has decreased 5% to 1,614, down from 1,696 in Q2 2020.
Median Days to Offer
Number of Sold Properties
8 Days
3,328
0% Year over Year
+ 105% Year over Year
The Median Days to Offer for Condos in Greater Boston is the same as Q2 2020.
The Number of Sold Condos in Greater Boston has increased 105% to 3,328, up from 1,624 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
76 Robin Road, Weston | Listed for $9,550,000 by Liz Kincannon
Source: MLSpin. For the purpose of this report, MetroWest includes Ashland, Dover, Framingham, Holliston, Hopkinton, Medfield, Medway, Millis, Natick, Needham, Sherborn, Sudbury, Wellesley, Weston.
MetroWest Q2 Market Insights
Median Sale Price
Listing Inventory
$1,125,000
256
+ 22% Year over Year
- 50% Year over Year
The Median Sale Price in the MetroWest has increased 22% to $1,125,000, up from $918,929 in Q2 2020.
The Listing Inventory in the MetroWest has decreased 50% to 256, down from 516 in Q2 2020.
Median Days to Offer
Number of Sold Properties
5 Days
941
- 44% Year over Year
+ 21% Year over Year
The Median Days to Offer in the MetroWest has decreased 44% to 5, down from 9 in Q2 2020.
The Number of Sold Properties in the MetroWest has increased 21% to 941, up from 775 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
37 Warren Street, Salem | Listed for $1,225,000 by Michael Selbst
Source: MLSpin. For the purpose of this report, the North Shore includes Amesbury, Beverly, Boxford, Danvers, Essex, Georgetown, Gloucester, Groveland, Hamilton, Haverhill, Ipswich, Lynn, Lynnfield, Manchester, Marblehead, Merrimac, Middleton, Nahant, Newbury, Newburyport, Peabody, Rockport, Rowley, Salem, Salisbury, Saugus, Swampscott, Topsfield, Wenham, and West Newbury.
North Shore Q2 Market Insights
Median Sale Price
Listing Inventory
$625,000
221
+ 19% Year over Year
- 37% Year over Year
The Median Sale Price in the North Shore has increased 19% to $625,000, up from $526,500 in Q2 2020.
The Listing Inventory in the North Shore has decreased 37% to 221, down from 352 in Q2 2020.
Median Days to Offer
Number of Sold Properties
6 Days
919
- 25% Year over Year
+ 32% Year over Year
The Median Days to Offer in the North Shore has decreased 25% to 6, down from 8 in Q2 2020.
The Number of Sold Properties in the North Shore has increased 32% to 919, up from 694 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
21 Oceanside Drive U:21, Hull | Listed for $895,000 by Kirsten O’Donnell
Source: MLSpin. For the purpose of this report, South Shore includes Abington, Braintree, Carver, Cohasset, Duxbury, Halifax, Hanover, Hanson, Hingham, Hull, Kingston, Marshfield, Norwell, Pembroke, Plymouth, Plympton, Rockland, Scituate, Weymouth, Whitman.
South Shore Q2 Market Insights
Median Sale Price
Listing Inventory
$620,000
410
+ 19% Year over Year
- 40% Year over Year
The Median Sale Price in the South Shore has increased 19% to $620,000, up from $504,500 in Q2 2020.
The Listing Inventory in the South Shore has decreased 40% to 410, down from 688 in Q2 2020.
Median Days to Offer
Number of Sold Properties
5 Days
1,525
- 50% Year over Year
+ 22% Year over Year
The Median Days to Offer in the South Shore has decreased 50% to 5, down from 10 in Q2 2020.
The Number of Sold Properties in the South Shore has increased 22% to 1,525, up from 1,246 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
47 Strandway, Harwich | Listed for $6,500,000 by Paul McCormick
Source: MLS Flex. For the purpose of this report, lower cape includes Brewster, Chatham, Dennis, Harwich, Orleans
Lower Cape Q2 Market Insights
Median Sale Price
Listing Inventory
$595,000
819
+ 32% Year over Year
- 38% Year over Year
The Median Sale Price on the Lower Cape has increased 32% to $595,000, up from $452,500 in Q2 2020.
The Listing Inventory on the Lower Cape has decreased 38% to 819, down from 1,319 in Q2 2020.
Median Days on Market
Number of Sold Properties
51 Days
435
- 65% Year over Year
+ 13% Year over Year
The Median Days on Market on the Lower Cape has decreased 65% to 51, down from 147 in Q2 2020.
The Number of Sold Properties on the Lower Cape has increased 13% to 435, up from 386 in Q2 2020.
2021 | 2ND QUARTER MARKET INSIGHTS
63 Head Of The Meadow Road, Truro | Listed for $4,630,000 by Team Rick & Devin
Source: MLS Flex. For the purpose of this report, outer Cape includes Eastham, Wellfleet, Truro, Provincetown.
Outer Cape Q2 Market Insights
Median Sale Price
Listing Inventory
$659,500
365
+ 36% Year over Year
- 37% Year over Year
The Median Sale Price in the Outer Cape has increased 36% to $659,500, up from $486,000 in Q2 2020.
The Listing Inventory in the Outer Cape decreased 37% to 365, down from 655 in Q2 2020.
Median Days on Market
Number of Sold Properties
122 Days
200
- 31% Year over Year
+ 91% Year over Year
The Median Days on Market in the Outer Cape has decreased 31% to 122, down from 176 in Q2 2020.
The Number of Sold Properties in the Outer Cape has increased 91% to 200, up from 105 in Q2 2020.
Looking for more insights? Contact our team. Arlington
Dennis
Savin Hill
1010 Massachusetts Avenue Arlington, MA 02476 781.648.3500
563 Route 6A Dennis, MA 02638 508.385.4944
119 Savin Hill Avenue Boston, MA 02125 617.825.0800
Back Bay
Harwich Port
277 Dartmouth Street, 2nd Floor Boston, MA 02116 617.375.6900
587 Route 28 Harwich Port, MA 02646 508.432.6100
Brewster 2404 Main Street Brewster, MA 02631 508.896.5000
Cambridge 1008 Massachusetts Avenue Cambridge, MA 02138 617.945.9161 1762 Massachusetts Avenue Cambridge, MA 02140 617.864.9779
Charlestown 20 City Square Charlestown, MA 02129 617.242.4222
South Boston 141 Dorchester Avenue, #R102 Boston, MA 02127 617.482.9200
Hingham 15 Shipyard Drive 1A Hingham, MA 02043 781.749.8833
Manchester-by-the-Sea 21 Central Street Manchester, MA 01944 987.526.0243
Needham 936 Great Plain Avenue Needham, MA 02492 781.444.8383
North End | Waterfront 2 Baldwin Place Boston, MA 02109 617.227.1000
South End 556 Tremont Street Boston, MA 02118 617.426.6900
Sudbury 420A Boston Post Road Sudbury, MA 01776 978.443.8484
Wellesley 54 Central Street Wellesley, MA 02482 781.237.8181
Weston
Chatham
Orleans
409 Main Street Chatham, MA 02633 508.945.0000
6 Route 6A Orleans, MA 02653 508.255.6000
Cohasset
Provincetown
Westwood
1 South Main Street Cohasset, MA 02025 781.383.8835
168 Commercial Street Provincetown, MA 02657 508.487.2430
745 High Street Westwood, MA 02090 781.329.8008
544 Boston Post Road Weston, MA 02493 781.894.8282
Whether you’re moving on or moving forward, Nothing compares.
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