Home values in Central have been climbing, with the typical home value now around $1,125,000, up 13.62% over the past year and 5.14% just since January. List prices are moving in the same direction, with the median list price at about $1,649,000 and projected to edge higher to roughly $1,673,500 in March.
Inventory is starting to open up month to month, with 178 homes for sale in February, a 12.66% increase from the prior month, and a projected 188 listings ahead. At the same time, new listings have dropped sharply compared to last year, down 41.92%, and pending sales are also lower year over year by 18.69%. Homes are spending more time on the market, with a median of 66 days, up both month over month and 17.86% annually.
Conditions still lean toward sellers, reflected in a seller's market gauge of 20 and a sale-to-list ratio just under full price at 0.97, even though only about 10% of homes are currently selling above list. Compared with Boston overall, where the typical home value is about $810,000 and slightly down year over year, Central sits at a higher price point with stronger value growth. With rising prices, shifting inventory, and slower buyer pace, buyers and sellers in Central can both benefit from Agent Pronto’s help in connecting with the right local agent to navigate this market.
