Market Report: May 2022

It’s almost summer! Before the heat kicks in, let’s take a look back at some of the trends we saw across the region in the month of May:

In Cambridge, while the number of single-family homes sold decreased 33% year-over-year, inventory remains tight. 8 homes were sold compared to last year’s 9. Condos saw almost a 21% decrease in year-over-year sales, down to 65 homes sold compared to 83 in 2021. Average list prices were up 8.4% (compared to 23% in April) and days on market remain substantially down.

Boston continues to show varying trends across its different neighborhoods. While the number of condos sold in Back Bay decreased 40% since 2021, the number sold on the Waterfront increased 100%. The single-family market continues to be tight.