Boston, Cambridge, Somerville, and Arlington 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.
Prices for single-family homes are up across Boston, Cambridge, Somerville and Arlington. However, condo prices fell in all areas in November compared to October’s numbers. Inventory in both single-family homes and condos continued to rise for the month of November except in the Boston area where they fell from last month. The likely cause for the dip in condo prices was the increase in inventory that leveled the market a bit. The suburbs saw an increase in the days on market for single families and condos except in Cambridge where single-family homes continue to sell quickly and be desirable. Boston’s days on market also dropped for single-family and condos showing there is still a strong push to move even in typically slower months, especially when compared with the rise in inventory. If you’d like to speak to a member of the Residential team at Senné about market statistics for your home or neighborhood contact us today!
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