The following is the most recent sales data release for September 2021
Boston Condo Sales
Up in September by 35.2% versus September 2020
Median Boston condo sales price
$725,000 Up 11.3% versus September 2020
Boston Condo Inventory
1,573 Boston condos for sale. Down 26.2% versus September 2020
Boston Condo Days-on-Market
95 days to put a Boston condo under the agreement. UP 13.7% versus September 2020
Boston Condo Median Sales Price Per. Sq. Ft.
$794.00 per sq fr. Up 17.9% versus September 2020
Boston condo stats
Asking prices for homes reached an all-time high in September, despite pending sales and new listings cooling.
Redfin chief economist Daryl Fairweather said the increase in asking prices shows home sellers’ optimism about the market, but there are still signs that mortgage rates are starting to rise.
“The hit to affordability that comes with higher rates and higher home prices could let some steam out of the market,” he said in a press release. “It’s never a good idea to overprice your home, but I would be especially wary of overpricing, as seasonal cooling trends persist and rising rates take some affordability out of the homebuying equation.”
Despite the increase in asking prices, pending sales were up 4% from a year earlier, the lowest increase since June 2020, a sign of typical seasonal cooling, according to the report, which also noted new listings were down 20% from their 2021 peak.
For the four weeks ended Sept. 26, new listings were down 78% from the previous year, as they continued to be below the 2020 levels of the four weeks ended Aug. 22. Active listings also dropped, down 22% from 2020.
Just over 45% of homes that went under contract in September had an offer within the first two weeks, three percentage points higher than the rate last year. Homes under contract within one week hit 33%, up from 31% a year earlier.
Mortgage applications dropped 1% week-over-week during the period.
Boston condo stats
The numbers are in for August and we are starting to see an uptick in the Boston condo sales numbers compared to August of 2020. However, it may take a few more days to sell a downtown Boston condo, Multiple offers were common in August and they still are. Sale prices were on average higher than asking prices. Overpriced real estate is slow to get offers.
Low inventories of Boston condos for sale are driving prices up as the strong seller’s market continues.
The numbers used to create the tables were extracted from MLS which is deemed reliable but not guaranteed.
91% –Sold For Over 95% of List Price