Boston Real Estate Market Report Q3 2022
https://bostonpads.com/blog/boston-housing-market/2022-q3-boston-real-estate-market-report/ As we enter the final quarter of 2022, it appears like the decade-long period of growth for Boston’s real estate market is grinding to a halt. The most recent MLS data shows that rising interest rates have effectively suffocated demand for Boston real estate in Q3. Total 30 day sales from September are down -37.24% compared to a year ago. Meanwhile, the total number of sales listings are up 25.10% over the same period. As a result, Boston’s 30-day median sale price has been slipping from the record high of $876,091 set in May of this year. Last month’s 30-day median sale price of $807,303 is still up by a slim margin (+3.64%) compared to September 2021, but current data trends show that year-over-year price growth will soon be in the red in Boston. Let’s take a look at the trends driving Boston’s real estate market. Demand For Boston Real Estate Waning In September, the City of Boston re...