"Boston's median list price landed at $949,500 in February - down 13.6% from a year ago, far outpacing the national decline of just 2.1%. Only 7.9% of listings carried a price reduction, nearly half the national rate of 15.5%, indicating that the price drop likely reflects fewer ultra-luxury listings hitting the market in February, not broad weakness."
"If you're searching for a home in Boston right now, don't expect a flood of options - last month's supply picture was still historically tight. Active listings rose just 3.0% year-over-year to 834 homes, less than half the national inventory growth rate of 7.9%. New listings actually fell 3.3% year-over-year, with only 408 fresh homes hitting the market."
Boston's housing market is characterized by a significant drop in median list prices, down 13.6% year-over-year to $949,500. Despite this price decline, inventory remains historically low, with only a 3.0% increase in active listings. New listings fell by 3.3%, indicating a shrinking supply. Homes are selling quickly, averaging 42 days on the market, which is faster than the national average. The market dynamics reflect a complex interplay of price softness and tight supply, with seller behavior showing resilience despite the price drop.
Read at SFGATE
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