Home Sales Down 19.13% & Prices Up 11.86%
Home sales decreased by 19.13% in Waltham as of June 30, 2022, falling to 279 sales over 345 during the same time period last year.
Waltham’s average sales price came in at $768,288, a 11.86% year-over-year increase from $686,825.
These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic above.
There were 362 listings in the first half of 2022, a 12.77% decrease over last year’s 415 listings.
Pending sales decreased 22%, with 312 in the first half of 2022 versus 400 this same time period last year.
Similar to the Massachusetts real estate market as a whole, the Waltham market is cooling down and heading back towards pre-pandemic levels. Lowered sales in the area can be attributed mostly to increased mortgage rates which have lowered buyer affordability, therefore, slowing the frenzied nature of the market we have seen previously. As a result, this cooling market will yield more inventory, a definite plus in the buyer’s favor, but there still is not enough supply yet to majorly impact prices, but it will slow their incline.
To learn more about Massachusetts performance and the predictions for the rest of the year, click here to read the 2022 Massachusetts Mid-Year Report.
Data provided by Warren Group & MLSPin and compared to the prior year.