South Boston Market Recap - February 2020

Category: Real Estate

As we did in the January recap, we will focus on the condominium sales and listing data as the sample sizes for both single-family and multi-family are too small to gather any trends. Also, the source of the data was exclusively from MLS, which we find to be more comprehensive, especially on the listing side, and timely as we can complete these monthly reports in the first week of the following month. Please note that the Covid-19 state of emergencies had not taken place in February, so the virus had little effect on the real estate market in February. We certainly anticipate the virus effect in the March and April Recaps. Our overall conclusion for February 2020 is that the South Boston residential real estate market was heating up and had a considerable amount of energy and activity that is reflected in the Sale Pending, Days on Market, and Current Listings graphs below. Although both the number sales and the median sale price was down from January 2020 and down year over year from February 2019, both lagging indicators, all other indicators were trending up.