Q3 2023 Market Report (QR CODE)

Market Insights

2 0 2 3 T H I RD QUA RT ER

State of the Market The story of the third quarter real estate market could be boiled down to one important factor: low single family inventory. This is a continuation of the market shift that began in mid-2022, when mortgage interest rates began to rise and sellers put their planned moves on hold. Therefore, suburban single family homes are still selling quickly and often for more than the asking price.

Lower priced condominiums have a strong buyer pool, as do the ultra luxury units and single family homes in desirable areas of the cities. In many cases long-term rentals (12 months) have become quite competitive, with multiple renters bidding on the same unit.

Properties that have recent renovations are prized compared to those that don?t.

So which micro-markets are not moving as quickly? Inventory has continued to grow in some of the more established, larger, condominium buildings in Boston. Homes that were not recently updated are realizing less value, as renovation projects are costly and time-consuming ? largely because there are fewer available contractors than in the past.

The good news is that interest rates have stabilized and buyers are very active in the marketplace. There are some discussions happening about potential tools to help buyers, including assumable mortgages. Some sellers and buyers are taking advantage of rate buy-downs. In many cases, accepted offers include contingencies ? buyer protections that are typically seen in ?normal market cycles?.

The takeaway is that homeowners who are able to sell can take advantage of a low inventory environment and capitalize on their home as an investment. In some counties, singly family inventory is down as much as 34%, year-over-year. Many who have second homes are moving into those and selling their primary home for a significant profit.

If you are considering selling, buying, or renting real estate, we can advise you on where and how to make a move. Whether that is down the street or around the globe, our agents can help. Please contact us for more information.

Colleen Barry, CEO Gibson Sotheby's International Realty

Nicole Rideout Hart wick, CSO Gibson Sotheby's International Realty

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

8 Byron St reet , Beacon Hill Source: MLSpin. For the purpose of this report , core neighborhoods include Back Bay, Bay Village, Beacon Hill, Charlestown, Leather District , Midtown, North End, South Boston, South End, Theatre District , Waterfront and the West End.

Boston S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 45 (0 % YOY) Q3 2022 45 M ED I A N DAYS O N M A RK ET Q3 20 23 24 (-33% YOY) Q3 2022 36 M ED I A N SA L E P RI C E Q3 20 23 $ 1,572,50 0 (-17% YOY) Q3 2022 $1,897,500 SOL D L I ST I N GS Q3 20 23 34 (-26% YOY) Q3 2022 46

Boston CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 574 (-6% YOY) Q3 2022 608 M ED I A N DAYS O N M A RK ET Q3 20 23 23 (-12% YOY) Q3 2022 26 M ED I A N SA L E P RI C E Q3 20 23 $ 1,0 50,0 0 0 (+14% YOY) Q3 2022 $919,500 SOL D L I ST I N GS Q3 20 23 464 (-7% YOY) Q3 2022 498

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

1 Dalt on St reet , Unit 430 5, Back Bay Source: MLSpin. For the purpose of this report , core neighborhoods include Back Bay, Bay Village, Beacon Hill, Charlestown, Leather District , Midtown, North End, South Boston, South End, Theatre District , Waterfront and the West End.

L U X U RY B EG I N S W I T H S ERV I C E

White Glove Gibson Sotheby?s International Realty?s White Glove program is designed to provide luxurious and comprehensive home preparation services with professional project management and no upfront costs. White Glove offers our clients value at every stage of the home selling or buying process with an exclusive suite of seamless services powered by Zoom Casa.

Curious to learn more? Contact us today.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

14 Cot t onwood Road, Newt on Source: MLSpin. For the purpose of this report , Greater Boston includes Arlington, Belmont , Boston, Brookline, Burlington, Cambridge, Chelsea, Dedham, Everett , Medford, Milton, Newton, Revere, Somerville, Waltham, Watertown, Winchester, Winthrop, Woburn.

Greater Boston S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 90 2 (-21% YOY) Q3 2022 1,138 M ED I A N DAYS O N M A RK ET Q3 20 23 19 (0 % YOY) Q3 2022 19 M ED I A N SA L E P RI C E Q3 20 23 $ 995,0 0 0 (+7% YOY) Q3 2022 $930,000 SOL D L I ST I N GS Q3 20 23 785 (-24% YOY) Q3 2022 1,033

Greater Boston CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 1,0 40 (-14% YOY) Q3 2022 1,207 M ED I A N DAYS O N M A RK ET Q3 20 23 20 (-5% YOY) Q3 2022 21 M ED I A N SA L E P RI C E Q3 20 23 $778,750 (+9% YOY) Q3 2022 $715,000 SOL D L I ST I N GS Q3 20 23 846 (-14% YOY) Q3 2022 981

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

45 Russel St reet , Unit 2, Somerville Source: MLSpin. For the purpose of this report , Greater Boston includes Arlington, Belmont , Boston, Brookline, Burlington, Cambridge, Chelsea, Dedham, Everett , Medford, Milton, Newton, Revere, Somerville, Waltham, Watertown, Winchester, Winthrop, Woburn.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

42 Rhinecliff St reet , Arlingt on Source: MLSpin.

Arlington S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 65 (-32% YOY) Q3 2022 95 M ED I A N DAYS O N M A RK ET Q3 20 23 15 (+67% YOY) Q3 2022 9 M ED I A N SA L E P RI C E Q3 20 23 $ 1,237,50 0 (+1% YOY) Q3 2022 $1,225,000 SOL D L I ST I N GS Q3 20 23 66 (-14% YOY) Q3 2022 77

Arlington CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 67 (-15% YOY) Q3 2022 79 M ED I A N DAYS O N M A RK ET Q3 20 23 10 (-55% YOY) Q3 2022 22 M ED I A N SA L E P RI C E Q3 20 23 $ 810,0 0 0 (+15% YOY) Q3 2022 $705,000 SOL D L I ST I N GS Q3 20 23 47 (-23% YOY) Q3 2022 61

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

72 Walnut St reet , Unit 1, Arlingt on Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

462 Cambridge St reet , Unit 2, Cambridge Source: MLSpin.

Cambridge S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 52 (-7% YOY) Q3 2022 56 M ED I A N DAYS O N M A RK ET Q3 20 23 14 (-7% YOY) Q3 2022 15 M ED I A N SA L E P RI C E Q3 20 23 $ 2,0 0 0,0 0 0 (-2% YOY) Q3 2022 $2,033,000 SOL D L I ST I N GS Q3 20 23 19 (-42% YOY) Q3 2022 33

Cambridge CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 185 (-13% YOY) Q3 2022 212 M ED I A N DAYS O N M A RK ET Q3 20 23 22 (+5% YOY) Q3 2022 21 M ED I A N SA L E P RI C E Q3 20 23 $ 880,0 0 0 (-1% YOY) Q3 2022 $890,000 SOL D L I ST I N GS Q3 20 23 143 (-5% YOY) Q3 2022 151

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

343 Broadway, Unit 2, Cambridge Source: MLSpin.

FI N D A H O M E YO U L OV E W I T H

Real Scout RealScout is the industry's # 1 collaborative home search app.

Our clients rave about this innovative, mobile-friendly search tool! Want to try the future of the home buying search process? Contact our team to get started today.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

92 Count ry Drive, West on Source: MLSpin. For the purpose of this report , MetroWest includes Ashland, Dover, Framingham, Holliston, Hopkinton, Medfield, Medway, Millis, Natick, Needham, Sherborn, Sudbury, Wellesley, Weston.

MetroWest S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 610 (-21% YOY) Q3 2022 776 M ED I A N DAYS O N M A RK ET Q3 20 23 16 (0 % YOY) Q3 2022 16 M ED I A N SA L E P RI C E Q3 20 23 $ 1,30 5,0 0 0 (+7% YOY) Q3 2022 $1,225,000 SOL D L I ST I N GS Q3 20 23 647 (-25% YOY) Q3 2022 859

North Shore S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 80 0 (-25% YOY) Q3 2022 1,065 M ED I A N DAYS O N M A RK ET Q3 20 23 19 (-5% YOY) Q3 2022 20 M ED I A N SA L E P RI C E Q3 20 23 $70 3,0 0 0 (+7% YOY) Q3 2022 $660,000 SOL D L I ST I N GS Q3 20 23 678 (-30 % YOY) Q3 2022 973

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

347 High St reet , Newburyport Source: MLSpin. For the purpose of this report , the North Shore includes Amesbury, Beverly, Boxford, Danvers, Essex, Georgetown, Gloucester, Groveland, Hamilton, Haverhill, Ipswich, Lynn, Lynnfield, Manchester, Marblehead, Merrimac, Middleton, Nahant , Newbury, Newburyport , Peabody, Rockport , Rowley, Salem, Salisbury, Saugus, Swampscott , Topsfield, Wenham, and West Newbury.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

43 Beacon Road, Hull Source: MLSpin. For the purpose of this report , South Shore includes Abington, Braintree, Carver, Cohasset , Duxbury, Halifax, Hanover, Hanson, Hingham, Hull, Kingston, Marshfield, Norwell, Pembroke, Plymouth, Plympton, Rockland, Scituate, Weymouth, Whitman.

South Shore S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 1,230 (-19% YOY) Q3 2022 1,512 M ED I A N DAYS O N M A RK ET Q3 20 23 19 (0 % YOY) Q3 2022 19 M ED I A N SA L E P RI C E Q3 20 23 $70 0,0 0 0 (+7% YOY) Q3 2022 $655,000 SOL D L I ST I N GS Q3 20 23 1,0 96 (-24% YOY) Q3 2022 1,442

South Coast S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 270 (-16% YOY) Q3 2022 320 M ED I A N DAYS O N M A RK ET Q3 20 23 22 (-4% YOY) Q3 2022 23 M ED I A N SA L E P RI C E Q3 20 23 $ 539,50 0 (+7% YOY) Q3 2022 $504,900 SOL D L I ST I N GS Q3 20 23 234 (-25% YOY) Q3 2022 311

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

2 Bayberry Lane, Dart mout h Source: MLSpin. For the purpose of this report , South Coast includes Dartmouth, Westport , Fairhaven, Mattapoisett , Marion and Wareham

D I S C OV ER T H E EA S E O F

Deposit Link DepositLink is a simple, secure and efficient way for real estate companies and escrow holders to collect earnest money deposits and commissions electronically through the ACH network.

DepositLink is a Game Changer -

With Same Day ACH, payments clear in less than 24 hours.

-

Safely request deposits and commissions from anywhere

-

Securely connect to more than 16,000 banks and credit unions nationwide

-

Unique workflows and reporting for sales and rentals

-

Divide payments among multiple buyers or tenants

-

Track the status of transfers in real-time with your phone

-

Issue refunds and co-broke payments electronically in seconds

Security is Our # 1 Priority -

We NEVER save or store any banking info

-

Clients?contact information is NEVER shared

-

Bank-level 256-bit key data encryption

-

Two-factor authentication login

-

2-step identity and account verification

Upper Cape S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 359 (-8% YOY) Q3 2022 391 AV ERA GE DAYS O N M A RK ET Q3 20 23 24 (-7% YOY) Q3 2022 26 M ED I A N SA L E P RI C E Q3 20 23 $737,0 0 0 (+6% YOY) Q3 2022 $695,000 SOL D L I ST I N GS Q3 20 23 237 (-22% YOY) Q3 2022 307

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

10 Carl Gardner Road, Bourne Source: CCIMLS. For the purpose of this report , Upper Cape includes Bourne, Falmouth, Mashpee, Sandwich.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

232 Blue Rock Road, Sout h Yarmout h Source: CCIMLS. For the purpose of this report , Mid Cape includes Barnstable, Dennis, Yarmouth.

Mid Cape S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 358 (-14% YOY) Q3 2022 420 AV ERA GE DAYS O N M A RK ET Q3 20 23 24 (+20 % YOY) Q3 2022 20 M ED I A N SA L E P RI C E Q3 20 23 $ 650,0 0 0 (+8% YOY) Q3 2022 $600,000 SOL D L I ST I N GS Q3 20 23 253 (-33% YOY) Q3 2022 382

Lower Cape S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 160 (-16% YOY) Q3 2022 191 AV ERA GE DAYS O N M A RK ET Q3 20 23 45 (+136% YOY) Q3 2022 19 M ED I A N SA L E P RI C E Q3 20 23 $ 884,50 0 (+1% YOY) Q3 2022 $875,000 SOL D L I ST I N GS Q3 20 23 126 (-27% YOY) Q3 2022 173

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

326 + 324 Main St reet , Chat ham Source: CCIMLS. For the purpose of this report , Lower Cape includes Brewster, Chatham, Harwich, Orleans

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

15 Jason's Pat h, Wellfleet Source: CCIMLS. For the purpose of this report , Outer Cape includes Eastham, Wellfleet , Truro, Provincetown.

Outer Cape S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 82 (-20 % YOY) Q3 2022 103 AV ERA GE DAYS O N M A RK ET Q3 20 23 39 (+69% YOY) Q3 2022 23 M ED I A N SA L E P RI C E Q3 20 23 $ 1,149,425 (+43% YOY) Q3 2022 $800,000 SOL D L I ST I N GS Q3 20 23 60 (-14% YOY) Q3 2022 70

N OT H I N G C O M PA RES T O W H AT ' S N EX T

© 2023 Sotheby?s International Realty. All Rights Reserved. Sotheby?s International Realty® is a registered trademark and used with permission. Each Sotheby?s International Realty office is independently owned and operated, except those operated by Sotheby?s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. All offerings are subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.