Market Report: January 2021

Boston, Cambridge, and Somerville share a collective population of just under 1,000,000 people across 40+ neighborhoods. In this market report, we present key market statistics and explore what these figures could mean to buyers, sellers, renters, and investors. 

Overview

Boston, Cambridge, and Somerville combined have just about 1,700 single-family, multi-family, and condominium units on the market. Each shows signs of favorable terms for those looking to invest or move. Somerville has the lowest average sale price per square foot at $569. Boston has the most inventory from which to choose, while neighboring Cambridge boasts the highest average sale price among the three at $992,285. With last year’s coronavirus lock-downs sending an influx of city-area residents packing to neighboring towns looking for cheaper and more spacious accommodations, we expect to see the pandemic’s continuing long-term effects on the residential real estate market in the months to come.

 For more information, download our January Market Report here.