Housing Inventory and Sales Increased in 2021

Despite housing inventory increasing 7% to 63% in Arlington, Belmont, Cambridge, Medford, and Somerville MA in 2021; increased home buyer demand resulted in record-breaking sale prices and the highest percentage of listings sold in years.

Home Buyer Demand Out-Paced Housing Inventory

Typically when housing inventory increases, the resulting home sale prices either level off or begin to decrease.  The 2021 housing market proves that when home buyer demand continues to out-pace inventory, home sale prices will continue to rise.

The statistics below exhibit 2020 and 2021 housing inventory (number of listings), 2020 and 2021 percentage of listings sold, and the corresponding year over year percentage change for each statistic.

Housing Inventory Arlington MA 2021

In 2021, Condominium inventory increased 7% in Arlington MA; Single Family inventory decreased 1%, and Multi-Family inventory increased 13%.  The percentage of Arlington listings sold also increased 10% for Condominium; increased 14% for Single Family, and increased 10% for Multi-Family homes.

ARLINGTON# Listings for Sale 2020# Listings for Sale 2021% Change% Listings Sold 2020% Listings Sold 2021% Change
Condominium304324+ 7 %79 %89 %+ 10 %
Single Family314312- 1 %84 %98 %+ 14 %
Multi-Family5562+ 13 %75 %85 %+ 10 %

Ave Sale Price Arlington 2021:   Condo $708,904   Single Family $1,069,072   Multi-Family $1,168,580
More statistics:  Arlington MA Market Statistics

Housing Inventory Belmont MA 2021

In 2021, Condominium inventory increased 17% in Belmont MA; Single Family inventory increased 7%, and Multi-Family inventory increased 65%.  The percentage of Belmont listings sold also increased 20% for Condominium; increased 8% for Single Family, and increased 23% for Multi-Family homes.

BELMONT# Listings for Sale 2020# Listings for Sale 2021% Change% Listings Sold 2020% Listings Sold 2021% Change
Condominium118138+ 17 %71 %91 %+ 20 %
Single Family180192+ 7 %82 %90 %+ 8 %
Multi-Family4371+ 65 %60 %83 %+ 23 %

Ave Sale Price Belmont 2021:   Condo $797,522   Single Family $1,512,612   Multi-Family $1,181,120
More statistics:  Belmont MA Market Statistics

Housing Inventory Cambridge MA 2021

In 2021, Condominium inventory increased 10% in Cambridge MA; Single Family inventory increased 8%, and Multi-Family inventory increased 21%.  The percentage of Cambridge listings sold also increased 20% for Condominium; increased 16% for Single Family, and decreased 1% for Multi-Family homes.

CAMBRIDGE# Listings for Sale 2020# Listings for Sale 2021% Change% Listings Sold 2020% Listings Sold 2021% Change
Condominium789865+ 10 %66 %86 %+ 20 %
Single Family185200+ 8 %58 %74 %+ 16 %
Multi-Family123149+ 21 %57 %56 %- 1 %

Ave Sale Price Cambridge 2021:   Condo $987,707   Single Family $2,124,383   Multi-Family $2,115,204
More statistics:  Cambridge MA Market Statistics

Housing Inventory Somerville MA 2021

In 2021, Condominium inventory increased 10% in Somerville MA; Single Family inventory decreased 1%, and Multi-Family inventory increased 10%.  The percentage of Somerville listings sold also increased 20% for Condominium; increased 14% for Single Family, and increased 8% for Multi-Family homes.

SOMERVILLE# Listings for Sale 2020# Listings for Sale 2021% Change% Listings Sold 2020% Listings Sold 2021% Change
Condominium668737+ 10 %66 %86 %+ 20 %
Single Family123122- 1 %60 %74 %+ 14 %
Multi-Family277305+ 10 %65 %73 %+ 8 %

Ave Sale Price Somerville 2021:   Condo $849,470   Single Family $1,082,201   Multi-Family $1,357,104
More statistics:  Somerville MA Market Statistics

Housing Inventory Medford MA 2021

In 2021, Condominium inventory increased 7% in Medford MA; Single Family inventory increased 10%, and Multi-Family inventory increased 26%.  The percentage of Medford listings sold also increased 25% for Condominium; increased 8% for Single Family, and increased 5% for Multi-Family homes.

MEDFORD# Listings for Sale 2020# Listings for Sale 2021% Change% Listings Sold 2020% Listings Sold 2021% Change
Condominium328351+ 7 %65 %90 %+ 25 %
Single Family338371+ 10 %80 %88 %+ 8 %
Multi-Family110139+ 26 %73 %78 %+ 5 %

Ave Sale Price Medford 2021:   Condo $631,401   Single Family $771,635   Multi-Family $944,479
More statistics:  Medford MA Market Statistics

Data Source:  MLS Pinergy® as of 2-10-2022
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Tamela Roche

Contact Tamela to schedule a Home Seller Consultation or Home Buyer Consultation to prepare for the sale of your current home or to purchase a new home in Arlington, Belmont, Cambridge, Medford, or Somerville MA.

As a Client you will also receive my Residential Market Analysis with comprehensive market data and historical home sale trends to help you make decisions with confidence and peace of mind.

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