Overall, the above metrics suggest that the Boston condo market is currently favoring sellers, with relatively low inventory, quick sales, and homes selling close to asking price. Buyers should be prepared to act quickly and potentially pay close to the listing price, while sellers may have an advantage in negotiating terms. Let's break down these real estate metrics to see how they correlate with each other. 

 

First, we have the Months Supply of Inventory, which is currently at 3.99. This metric tells us how many months it would take to sell all the current homes on the market at the current pace of sales. A lower number indicates a seller's market, where there are fewer homes available for buyers to choose from. Next, we have the 12-Month Change in Months of Inventory, which is at -9.93%. A negative change in this metric means that the supply of homes on the market is decreasing compared to the previous year. This could indicate a trend of increasing demand for homes in the area. The Median Days Homes are On the Market is 23, which means that on average, homes are selling relatively quickly in this market. This metric can give sellers an idea of how long they can expect their home to be on the market before finding a buyer. The Sold to List Price Percentage is at 98.8%, which means that homes are typically selling very close to their listing price. This could indicate a competitive market where buyers are willing to pay close to asking price for homes. Finally, the Median Sold Price is $934,500. This gives us an idea of the average selling price of homes in the area. A higher median sold price could indicate a desirable location or a strong market with high demand.

 

Let's dive into the real estate market data for the Newton single-family home market.

 

Overall, the data suggests a very strong seller's market with low inventory, very high demand, and homes selling very quickly and potentially above asking price. Buyers should be prepared to act fast and potentially pay a premium, while sellers may benefit from listing their homes at a competitive price.

 

First, let's look at the Months Supply of Inventory, which is currently at 2.44. This metric tells us how many months it would take to sell all the homes on the market given the current pace of sales. A lower number indicates a seller's market, where demand outweighs supply. Next, the 12-Month Change in Months of Inventory is -6.15%. This means that inventory levels have decreased over the past year, which could indicate a tightening market and potentially higher prices. The Median Days Homes are On the Market is 16, which is a relatively short amount of time (shorter than the Boston condo market that's for sure). This suggests that homes are selling quickly, likely due to high demand and low inventory. The Sold to List Price Percentage is 106.1%, indicating that homes are selling for slightly above the asking price on average. This could be a result of competitive bidding among buyers. Lastly, the Median Sold Price is $1,900,000, which gives us an idea of the overall price range of homes in this market.

 

 

— Published by Lisa Keshet 3/2025