December 2019 Housing Report

“Prices are flat-lining,” said Linda O’Koniewski, CEO, Leading Edge. “Cambridge saw the most exuberant growth into 2019 but condo prices in Cambridge are the same as they were last year. The condo growth spurt in South Boston has soured prices in that neighborhood by nearly 6%. Arlington and Melrose captured headlines for being the hottest towns in the country. Prices have remained fairly stable year-over-year in both those towns. We are going to return to normal appreciation, 2-3%, not the double-digit historic rise in prices we’ve experienced since 2012. In every town and neighborhood there is a price band that attracts the most buyers, we call it the sweet spot. Throughout Greater Boston, those sweet spots are still tight for inventory and continue to fetch competition if priced on the money.”

November sales of single-family homes in the Leading Edge service area decreased -10.2% year-over-year. Inventory decreased -26.5%. The number of days on market over the last 12 months increased +12.1% while median sale prices remain up +1.6% at $630,000.