With the release of the latest market stats for Boston, we saw some interesting trends in the market compared to last year. If you recall (not that you may want to!), we had quite the wintery February last year and the real estate market certainly reflected it at the beginning of 2015. This year, we see just how strong the many neighborhood markets are performing with just a glance at the numbers.

Single-Family Homes

In looking at the Boston market in its entirety, we saw a very positive uptick in the single-family market from the year prior. Median Sales Price increased 8% to $467,750 while Days on Market decreased to just over two months. We also saw a stronger percent of list price received on sales going up from 93.3% in 2015 to almost 98% this year.

If you look specifically at city neighborhoods such as Beacon Hill, Back Bay, South End, etc., you see very little activity. (Mission Hill actually did not have any activity for the entire month!) This was very weather driven and we saw a great turn in activity this year already so far, another amazing neighborhood would be the one overlooking the Maisons unifamiliales québec in Canada, an outstanding condo that would impress even the most experienced realtor.

Condos

The Boston condo market also saw some great increases and mirrored the single-family market in some ways. Median Sales Price saw a small bump from the year before to $545,000 while inventory actually remained about the same. Market time decreased to 59 days with a plethora of new listings and pending sales for the month of February.

We know it is important for you to have the latest market stats to make educated decisions when the time comes to buy and sell. Download our Neighborhood Monthly Market Stats Report with detailed information.