Is East Boston, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, East Boston was a Seller's Market.
Key Takeaway
East Boston is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in East Boston, MA
How much do homes in East Boston, MA cost?
Median Sold Price
$713,500
$599/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Boston have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in East Boston was $713,500 in May 2024, up 9.8% from last year, and the median price per square foot was $599.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $494.5K | $525.8K | +6.3% |
| 2 Bedrooms | $619K | $670K | +8.2% |
| 3 Bedrooms | $710K | $800K | +12.7% |
| 4 Bedrooms | $799.5K | $827.5K | +3.5% |
| 5+ Bedrooms | $997.5K | $1.0M | +6.5% |
Summary: East Boston housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Central Square | $599.2K | $750K | +25.2% |
| East Boston | $650K | $713.5K | +9.8% |
| Orient Heights | $685K | $735K | +7.3% |
| Jeffries Point | $704.9K | $699K | -0.8% |
Housing Supply in East Boston, MA
How many homes are available in East Boston, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 153 | 158 | +3.3% |
Summary: The East Boston real estate market had 158 homes for sale in May 2024, a 3.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 25 | +8.7% |
| 2 Bedrooms | 70 | 68 | -2.9% |
| 3 Bedrooms | 32 | 35 | +9.4% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The East Boston housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.7%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 26 | -23.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Boston, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in East Boston in May 2024, down by 23.5% month-over-month. Of the 26 sold homes, 42% were sold under asking, 35% were sold at asking, and 23% were sold over asking.
Days on Market for East Boston, MA
How long does it take to sell a home in East Boston, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 38 Days | -21.4% |
Summary: Homes in East Boston had an average of 38 days on market in May 2024, down by 21.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Boston are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in East Boston; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
