Welp, Metro Boston single-family prices showed their first decrease in about 8 years. Single family prices were 7.6% lower than Jan 2022, and price per square foot was down 2.8%. Some towns had higher prices than Jan 2022, but there seems to be an overall trend the other way with many homes sitting on the market for at least twice as long as they have during the past 2-3 years.
With that said, it’s an interesting time since buyers are still seeing bidding wars for some homes in towns like Wilmington and Burlington when sellers are reacting to the market and preparing/pricing their homes well. My guess is that this is what it looks like at the peak when there’s still some confusion about what’s happening and it’s not 100% obvious that a downturn may have already begun.
You can check out the Metro Boston stats HERE and the rest of the towns I cover HERE.
