Boston condos for sale: Summer real estate market data
The Boston condo for sale market in July evoked the Tom Petty classic “Free Falling” — and Boston condo sellers and brokers are the ones with broken hearts.
Number of Boston condos sold July 2022 – 423. Down 33.2% vs July 2021.
Boston condo median sales price in July 2022 – $735,000. – Up 9.9% vs July 2021.
Boston condo median price per sq, ft, in July 2022 – $792.00 – Up 9% vs July 2021
Boston condos for sale days-on-market (DOM) July 2022 – 31 down vs July 2021
Updated: Boston Real Estate Blog 2022
Click to View Google Review
___________________________________________________________________________________________
As the health crisis started making its way throughout downtown Boston earlier this spring and now into the summer, Boston condo sellers have been cautious about putting their homes on the market.
This hesitation is stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of Boston real estate for sales transactions and slowed the pace of a typically busy month of May real estate season.
Let’s Look at the month of May Boston condo sales data
May 2020 – Number of Boston condos sold – 247 down 49.21% versus May 2019.
May 2020 – Median Boston condo sales price $625,000 down 7.5% versus May 2019.
May 2020 – Inventory Boston condos 1,182 down 12.4% versus May 2019
May 2020 – Day’s-on-Market 47 up 9.32% versus May 2019
May 2020 – Median Boston condo sales price per sq ft. $612.00 down 15.8% versus May 2019
Boston Real Estate and the Bottom Line
What I’m seeing is the luxury Boston condo market is slow both in listings and sales. Interest rates bode will for Boston condo buyers, as far as Boston condo sellers inventory is low, could be an opportunity for you.
