Market Report: February 2022

In Boston the number of single family homes that closed during the month of February was up 2% and the average sales price was up 8%. For Boston condos the average sales price was up 18% while average days on market was down 7% signifying the condo market is staying strong. The average price per square foot for both categories was up 20% and 7% respectively.

Cambridge saw an uptick of Single Family closings this February versus last, up by 33% with the average days on market down 45%, the average sales price for condos is up 16% and average condo price per square foot climbed 6% with average days on market down 23%.

Wayland inventory was very tight heading out of January however average days on market have risen by 23%. The Condo market in Wayland, which represents a small piece of the market, remains equally as tight.

For the month of February, sales of single family homes remained low and condominium sales dipped compared to 2021.The average price per square foot is rising in both single family homes and condominiums and the prices continue to go up, reflective of much of the greater Boston area.