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The Boston housing market is highly competitive. On average, homes in Boston receive two offers and sell within approximately 25 days. Last month, the median home sale price in Boston reached $843K, reflecting a 5.4% increase from the previous year. Additionally, the median price per square foot rose by 6.3% year-over-year to $648.
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In November 2024, Boston home prices saw a 5.4% increase compared to the previous year, with a median sale price of $843K. Homes in Boston sold slightly faster, spending an average of 25 days on the market compared to 26 days last year, indicating a steady demand. Additionally, the number of homes sold rose to 362, up from 302 the previous year. This growth in sales volume suggests a strong market with active buyer interest. Whether you're considering buying or selling, understanding these trends can help you navigate Boston's dynamic real estate landscape.
Boston remains a highly competitive housing market. On average, homes sell within 27 days, with many receiving multiple offers—some even with waived contingencies to secure the deal. Most homes sell for around 1% below the list price and typically go under contract in about 27 days. However, "hot homes" in high demand can sell for up to 2% above the list price and go pending in as little as 15 days. If you're a buyer, be prepared for a fast-paced market, and if you're selling, this environment offers an excellent opportunity to maximize your property's value.
In November 2024, Boston, MA was a seller's market, meaning the demand for homes exceeded the available supply. This competitive environment gives sellers an advantage, often leading to faster sales and higher prices. For buyers, it’s essential to act quickly and be prepared to navigate a competitive market.
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