Boston Single Family Market Report

Boston’s real estate market for single family homes took a big hit last month. Total single family sales in October were down by -14% year over year in Boston after the Fed raised interest rates in September by 0.75%. That was the third increase of 75 basis points in four months and 5th rate hike of 2022 up until that point. As a result, median sale prices for single family homes took a big hit in November and are trending downward.
Boston Single Family Median Price Hits Lowest Point Since November 2021

Last month, Boston’s median sale price for single family homes was $759K. While still up +7.09% year over year, it was the lowest median sale price recorded for the City of Boston since October 2021. It was also a steep drop from the $943,013 single family median sale price recorded just a month earlier in September.