2020 Market Area Review | Danielle Guigli

AREA MARKET REVIEW Boston, Needham & Wellesley

P R E PA R E D B Y: Danielle Guigli

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2020 was a year for adjustments with work, family, and lifestyles. We were able to spend less time in traffic, maybe a better view from a home office, and realize, our homes can be used for so much more than entertaining and sleeping! With the definition of home taking on new light last year, we look to 2021 with more clarity and excitement than ever.

Rumors spread about people fleeing the City for the Suburbs. While many gave in to the inevitable to flock to more space outside of Boston, the city still held its own. We’ve heard time and time again, Boston is a resilient city, and the numbers proved to be true. Please enjoy the 2020 market report for Boston, Wellesley, and Needham.

Thank you for entrusting me with your home, it is my privilege to work with you.

Boston Market Report New Listings 2019 | 505

Single Family Homes

Units Sold 2019 | 976

Average Price / Sq. Ft. 2019 | $694

New Listings 2019 | 3,640

Condominiums

Units Sold 2019 | 4,375

Average Price / Sq. Ft. 2019 | $978

New Listings 2019 | 551

Multi Family

Units Sold 2019 | 696

Average Price / Sq. Ft. 2019 | $433

Average Sale Price

2020

538

2019 | $869k

Average Days on Market

2020

872

2020

$

723

976

2020

565 2020

537

2020

$

453

2020

Average Absorption Rate

2020

2019 | 74%

4,150 $

959k

83

4,619

2020

$

2019 | 73.75

2020

2020

2020

Average Sale Price 2019 | $907k

Average Days on Market

62%

2020

$

869k

2020

2019 | 82

84

Average Absorption Rate

2020

2019 | 43%

Average Sale Price 2019 | $1.17m

Average Days on Market 2019 | 72

Average Absorption Rate 2019 | 43%

35%

2020

$

1.23m

2020

71.5 2020

41%

Needham Market Report New Listings

Single Family Homes

2019 | 175

154

Units Sold

2020

2019 | 309

Average Price / Sq. Ft. 2019 | $406

New Listings

Condominiums

292

2020

$

403

2020

2019 | 41

49

Units Sold

2020

2019 | 61

Average Price / Sq. Ft. 2019 | $382

New Listings 2019 | n/a

Multi Family

2020

Units Sold 2019 | 2

Average Price / Sq. Ft. 2019 | n/a

53

2020

$

368

2020

2

2020

n/a

2020

$

377

Average Sale Price 2019 | $1.19m

Average Days on Market

2020

$

1.35m

2020

2019 | 58

48

Average Absorption Rate

2020

2019 | 67%

71%

Average Sale Price

2020

2019 | $734k

Average Days on Market 2019 | 53

Average Absorption Rate

$

832k

2020

53

2020

2019 | 58%

51%

Average Sale Price

2020

2019 | $1.23m

Average Days on Market 2019 | 40

Average Absorption Rate 2019 | n/a

n/a 2020

n/a 2020

n/a

Wellesley Market Report New Listings 2019 | 289

Single Family Homes

Units Sold 2019 | 307

Average Price / Sq. Ft. 2019 | $490

New Listings

Condominiums

184 2020

345

2020

$

533

2020

2019 | 27

34

Units Sold

2020

2019 | 26

Average Price / Sq. Ft. 2019 | $523

New Listings 2019 | 5

Multi Family

2020

Units Sold 2019 | n/a

Average Price / Sq. Ft. 2019 | $491

33

2020

$

547

2020

5

2020

5

2020

$

301

Average Sale Price 2019 | $1.65m

Average Days on Market

2020

$

1.82m

2020

2019 | 70

64

Average Absorption Rate

2020

2019 | 42%

Average Sale Price 2019 | $790k

Average Days on Market

74%

2020

$

875k

2020

2019 | 40

66

Average Absorption Rate

2020

2019 | 41%

Average Sale Price 2019 | n/a

Average Days on Market

29%

2020

$

917k

2020

2019 | n/a

27

Average Absorption Rate

2020

2019 | 25%

15%

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