Market Report: August 2022

With cooler days on the horizon, let’s look back and see what has been going on across our region during the month of August.

In Cambridge while inventory has seen a small decline in the number of homes sold year-over year, the average sale price is up a substantial 85% in the single-family market. The condo market remains relatively stable with sales prices increasing 13% year-over-year.

Inventory in Boston remains tight. There has been a reduction in the number of homes sold across all neighborhoods. The average sales price for condos in the Seaport is down 14% year-over-year and it is down 26% in Back Bay. If you have been thinking of buying, now is still a good time. Mortgage rates are starting to come down, having recently fallen to their lowest point since April.

It is still a strong market and we want to help you make informed decisions. Don’t see your community featured in this report or are you looking for information on another type of property? Contact a Senné associate to learn more about what is going on in your local market. Our experts are here to assist with all your real estate needs.

Read our August market report here!