Q1 2021 Market Report: Prices Reach New Highs

Q1 2021 Market Report: Prices Reach New Highs

The data is in for the first quarter of 2021, and the results are historic. The median price for a single-family home in Massachusetts has surged past previous records.

Key Q1 Takeaways

Price Growth: Up 14% year-over-year in the Greater Boston area. Days on Market: Dropped to an average of just 18 days in towns like Needham. Inventory*: Remains at critically low levels, down 40% from Q1 2020.

What's Next?

As we enter the traditional spring market, we expect even more heat. However, interest rates have begun a slight climb, which may impact purchasing power later in the year.