The Boston, MA metro area housing market in January 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 1.0% year-over-year, settling at $718,000. This decline contrasts with the Median List Price, which has surged by 14.9% to $749,900, indicating a potential gap between seller expectations and buyer willingness.

Price Per Square Foot metrics further illustrate this divergence. The median Price Per Square Foot has increased by 10.0% to $412.31, while the Median List Price per square foot has risen by 3.8% to $442.18. This suggests that while sellers are listing homes at higher prices, buyers are negotiating more favorable terms.

In terms of sales activity, the number of Homes Sold has increased by 10.0% year-over-year, reaching 2,181 units. However, Pending Sales have decreased by 5.2%, totaling 2,339, which may indicate a slowdown in future transactions. New Listings have risen by 7.6% to 2,921, suggesting a growing inventory, yet the overall inventory has slightly decreased by 0.1% to 3,941 homes.

The Months of Supply, a critical indicator of market balance, has dropped by 20.0% to 1.80 months, reflecting a tighter market. Despite this, the Median Days on Market have increased by 6.0% to 32 days, indicating that homes are taking slightly longer to sell.

The average sale to list ratio remains stable at 100.1%, with no significant year-over-year change. However, the percentage of Homes Sold above list price has decreased by 2.6% to 39.6%, suggesting a shift towards more balanced negotiations between buyers and sellers. Price Drops have increased by 2.9% to 19.3%, further highlighting the potential for price adjustments in the market.

Finally, the percentage of homes going off the market within two weeks has increased by 1.4% to 53.1%, indicating that while some homes linger, others are still moving quickly, likely those priced competitively.