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How long does it take to sell a Boston condo for sale?

As more Boston condo sellers returned to the market in this Spring, downtown Boston real estate are sales are faster than ever, even as prices hit an all-time high and are expected to grow even higher. 

Real Estate Inventory

More homes came on the market this month compared to last year when COVID caused shelter-in-place orders nationwide, according to Realtor.com’s Monthly Housing Trends Report. 

Despite that growth, inventory levels are still below pre-pandemic levels (nearly 26%) and the median home price soared 17.2% year over year to a new high of $375,000. Additionally, the report found that nationally, homes sold in a record low of 43 days, 20 days less than this time last year. 

New Real Estate Listings 

New listings in April increased 32.6% over last year, yet they are still below pre-pandemic levels with 25.5% fewer homes listed this month than the average rate of listings in 2017-2019, the report indicated. Active listings were down 53% year over year, and total inventory, including pending sales, was down 21.9%. 

This month, active listings nationally grew by 17.2% from last year to an all-time high of $375,000. Median home prices increased 11.6% over last year in the 50 largest metros. In March prices increased 12.1%, a sign of lowing price growth in larger markets according to the report.

Boston Real Estate and the Bottom Line

This month, Boston saw list price growth of 13.3% year over year to $699,000. Homes stayed on the market for 24 days less than they did last year, at an average of 22 days. Year over year there was a 97.7% increase in new listings, and the active listing count year over year was down 25.1%.