Home Sales Down 18.3% & Prices Up 3.3%
As of December 31, 2022, Waltham home sales decreased by 18.3%, as there were 584 sales in 2022 compared to 715 in 2021.
Average prices increased by 3.3%, going from $722,508 in 2021 to $746,256 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 15.3%, moving from 751 in 2021 to 636 in 2022.
The number of pending sales decreased by 23.2% in Waltham, moving from 723 in 2021 to 555 in 2022.
The Waltham real estate market is expected to continue to adjust back as we head into 2023. Increased mortgage rates diminished buyer affordability and took many out of the market. Additionally, there are fewer sellers in the market than usual since many are holding off on listing to keep their current low mortgage rates. Overall, this will result in fewer sales in 2023. Regarding prices, they most likely will continue to rise, but not nearly as much or as quickly as they did in 2022 & 2021. Anthony’s 2023 Predictions provides a comprehensive outlook & analysis of what to expect from the real estate market in the coming 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.