Historically, January and February have been a time when home buyers can get a jump on the early springtime market, usually finding a deal from a seller who wants/needs to sell before the busiest real estate market of the year.
For example, this condo in Dorchester (brand new to market today) is fully renovated and features a gorgeous white kitchen:
A buyer looking now in this zip code can expect to pay less than if they had been searching to buy in the spring or summer of 2020, even though generally in the area prices continue to rise as inventory is low. ToriiHomes.com includes this market trend data for each listing page on the Details tab. Go ahead and try it!
Now, on to the December 2020 recap for the Greater Boston area…
P.S. Use the Monthly Market tool free on our site to see how each zip code’s sales have changed month to month.
December 2020 Sales Recap in Greater Boston
Lowest listing price (by total amount in $): Woburn (01807) with just 1 sale
Lowest sales price (by total amount in $): Woburn (01807) with just 1 sale
Most homes sold in December 2020: Boston (02127) sold 63 properties in December 2020, with an average days on market of 83 days and an average $/square foot of $686.
Highest number of days on market: Boston (02210) at 160 days on market, which is almost 100 days shorter than we saw in June’s longest on-market listing sale.
Lowest number of days on market: Allston (02134) at 50 days on market
Lowest price per sq ft: Randolph was our lowest price per sq ft in June, and it remains the lowest this month. Prices are going up, though, with Randolph’s price per sq ft at $233 per square foot in June 2020 and now $260 per square foot.
Highest price per sq ft: No surprise here- Boston (02110) came in at the highest price per square foot at $1,763 which is a large increase over the $1,561 we saw in the springtime.
Keep in mind that this data is based on closings in December. Most December closings would have had offer dates in October or November.
Winter Outlook for Greater Boston’s Real Estate Market
Torii’s resident experts agree that home buyers who are comfortable moving forward in a competitive market should consider looking to buy sooner than later. Jason Carter, one of Torii’s Boston-area expert agents, says, “Prices continue to rise due to a shortage of inventory and massive demand fueled by low interest rates. If you’re comfortable navigating the competition I advise moving forward now rather than waiting to buy.”
For more info on the current market, see https://www.torii.properties/monthly-market. If you’re ready to buy and need to talk to a lender, we’re happy to introduce you to one of our lending partners who we know and trust. Just email us firstname.lastname@example.org