AREA MARKET REVIEW Boston, Needham & Wellesley
P R E PA R E D B Y: Danielle Guigli
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2020 was a year for adjustments with work, family, and lifestyles. We were able to spend less time in traffic, maybe a better view from a home office, and realize, our homes can be used for so much more than entertaining and sleeping! With the definition of home taking on new light last year, we look to 2021 with more clarity and excitement than ever. Rumors spread about people fleeing the City for the Suburbs. While many gave in to the inevitable to flock to more space outside of Boston, the city still held its own. We’ve heard time and time again, Boston is a resilient city, and the numbers proved to be true. Please enjoy the 2020 market report for Boston, Wellesley, and Needham. Thank you for entrusting me with your home, it is my privilege to work with you.
Boston Market Report New Listings 2019 | 505
Single Family Homes
Units Sold 2019 | 976
Average Price / Sq. Ft. 2019 | $694
New Listings 2019 | 3,640
Condominiums
Units Sold 2019 | 4,375
Average Price / Sq. Ft. 2019 | $978
New Listings 2019 | 551
Multi Family
Units Sold 2019 | 696
Average Price / Sq. Ft. 2019 | $433
Average Sale Price
2020
538
2019 | $869k
Average Days on Market
2020
872
2020
$
723
976
2020
565 2020
537
2020
$
453
2020
Average Absorption Rate
2020
2019 | 74%
4,150 $
959k
83
4,619
2020
$
2019 | 73.75
2020
2020
2020
Average Sale Price 2019 | $907k
Average Days on Market
62%
2020
$
869k
2020
2019 | 82
84
Average Absorption Rate
2020
2019 | 43%
Average Sale Price 2019 | $1.17m
Average Days on Market 2019 | 72
Average Absorption Rate 2019 | 43%
35%
2020
$
1.23m
2020
71.5 2020
41%
Needham Market Report New Listings
Single Family Homes
2019 | 175
154
Units Sold
2020
2019 | 309
Average Price / Sq. Ft. 2019 | $406
New Listings
Condominiums
292
2020
$
403
2020
2019 | 41
49
Units Sold
2020
2019 | 61
Average Price / Sq. Ft. 2019 | $382
New Listings 2019 | n/a
Multi Family
2020
Units Sold 2019 | 2
Average Price / Sq. Ft. 2019 | n/a
53
2020
$
368
2020
2
2020
n/a
2020
$
377
Average Sale Price 2019 | $1.19m
Average Days on Market
2020
$
1.35m
2020
2019 | 58
48
Average Absorption Rate
2020
2019 | 67%
71%
Average Sale Price
2020
2019 | $734k
Average Days on Market 2019 | 53
Average Absorption Rate
$
832k
2020
53
2020
2019 | 58%
51%
Average Sale Price
2020
2019 | $1.23m
Average Days on Market 2019 | 40
Average Absorption Rate 2019 | n/a
n/a 2020
n/a 2020
n/a
Wellesley Market Report New Listings 2019 | 289
Single Family Homes
Units Sold 2019 | 307
Average Price / Sq. Ft. 2019 | $490
New Listings
Condominiums
184 2020
345
2020
$
533
2020
2019 | 27
34
Units Sold
2020
2019 | 26
Average Price / Sq. Ft. 2019 | $523
New Listings 2019 | 5
Multi Family
2020
Units Sold 2019 | n/a
Average Price / Sq. Ft. 2019 | $491
33
2020
$
547
2020
5
2020
5
2020
$
301
Average Sale Price 2019 | $1.65m
Average Days on Market
2020
$
1.82m
2020
2019 | 70
64
Average Absorption Rate
2020
2019 | 42%
Average Sale Price 2019 | $790k
Average Days on Market
74%
2020
$
875k
2020
2019 | 40
66
Average Absorption Rate
2020
2019 | 41%
Average Sale Price 2019 | n/a
Average Days on Market
29%
2020
$
917k
2020
2019 | n/a
27
Average Absorption Rate
2020
2019 | 25%
15%
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