Home Sales Down 26.9% & Prices Up 5.6%
As of December 31, 2022, Braintree home sales decreased by 26.9%% as there were 383 sales in 2022 compared to 524 in 2021.
Average prices increased by 5.6%, going from $583,568 in 2021 to $616,081 in 2022.
These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic above.
The number of listed homes decreased by 27.1%, moving from 528 in 2021 to 385 in 2022.
The number of pending sales decreased by 30.1% in Braintree in 2022 compared to 2021 from 495 to 346.
The Braintree real estate market continued to cool through the 2nd half of 2022. Now, as we enter 2023, the Braintree market will experience much of the same as the end of 2022 with sales down and prices up. Mortgage rates have increased significantly over the last few months resulting in fewer buyers that are able to afford homes. Additionally, there are also fewer sellers in the market since many do not want to give up their current lower rate mortgages. These factors combined will create a slower than usual market. Prices remain high but aren’t increasing at the same record-breaking pace as before. Anthony’s 2023 Predictions explain in-depth what homeowners should expect when making decisions about buying or selling in this upcoming year.
To learn more about Massachusetts performance, click here to read the 2022 Massachusetts Year in Review Report.
Data provided by Warren Group & MLSPin and compared to the prior year.