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 |
| Condominium | 304 | 324 | + 7 % | 79 % | 89 % | + 10 % |
| Single Family | 314 | 312 | - 1 % | 84 % | 98 % | + 14 % |
| Multi-Family | 55 | 62 | + 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 |
| Condominium | 118 | 138 | + 17 % | 71 % | 91 % | + 20 % |
| Single Family | 180 | 192 | + 7 % | 82 % | 90 % | + 8 % |
| Multi-Family | 43 | 71 | + 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 |
| Condominium | 789 | 865 | + 10 % | 66 % | 86 % | + 20 % |
| Single Family | 185 | 200 | + 8 % | 58 % | 74 % | + 16 % |
| Multi-Family | 123 | 149 | + 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 |
| Condominium | 668 | 737 | + 10 % | 66 % | 86 % | + 20 % |
| Single Family | 123 | 122 | - 1 % | 60 % | 74 % | + 14 % |
| Multi-Family | 277 | 305 | + 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 |
| Condominium | 328 | 351 | + 7 % | 65 % | 90 % | + 25 % |
| Single Family | 338 | 371 | + 10 % | 80 % | 88 % | + 8 % |
| Multi-Family | 110 | 139 | + 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.
