02116 Housing Market Report February 2025•Suffolk County, Massachusetts

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Housing Prices in 02116, MA

How much do homes in 02116, MA cost?

Housing Market Conditions

Is 02116, MA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

02116 is a Buyer's Market

Difference Since February 2024

Since last year, 02116 has remained a Buyer's Market.

Insight

02116 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$1,417,916$1,283/SqFt
-$110,833
-7.2%

Based on all homes sold in the last 12 months

Insight

Homes in 02116 have sold for 7.2% less than they did a year ago.

Summary: The median home sold price in 02116 was $1,417,916 in February 2025, down 7.2% from last year, and the median price per square foot was $1,283.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
02111
+2.6%
02118
+2.2%
02108
-1.4%
02116
-7.2%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$830K$776.5K
-6.4%
2$1.6M$1.5M
-4.6%
3$2.9M$2.8M
-3.0%
4$4.7M$3.8M
-18.6%
5$3.2M$6.9M
+118.7%

Summary: 02116 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -6.4%. The home price for 2 bedroom homes decreased by -4.6%. The home price for 3 bedroom homes decreased by -3.0%. The home price for 4 bedroom homes decreased by -18.6%. The home price for 5 bedroom homes increased by +118.7%.

Housing supply in 02116, MA

How many homes are available in 02116, MA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
110Last MonthFeb 2025
1062 months agoJan 2025
+3.8 %
Change MoMJan – Feb

Summary: The 02116 real estate market had 110 homes for sale in Feb 2025, a 3.8 % increase compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
14Last MonthFeb 2025
162 months agoJan 2025
-12.5 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
12525
0.0%
23437
+8.8%
32727
0.0%
499
0.0%
51112
+9.1%

Summary: 02116 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +8.8%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +9.1%.

Asking Price vs. Sold Price

How much do homes in 02116, MA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price3 Homes

At Asking Price2 Homes

Under Asking Price9 Homes

Insight

If you're buying a home in 02116, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 02116 in February 2025, down by 12.5% month-over-month. Of the 14 sold homes, 64% were sold under asking, 14% were sold at asking, and and 21% were sold over asking.

Days on Market for 02116, MA

How long does it take to sell a home in 02116, MA?

Breakdown of Home Sale Times

Under 30 Days7 Homes

30 – 90 Days5 Homes

Over 90 Days2 Homes

Insight

Many homes in 02116 are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 14 homes were sold in 02116; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
57 DaysThis YearFeb 2025
73 Days1 year agoFeb 2024
-21.3 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in 02116 had an average listing age of 57 days in Feb 2025, down by 21.3% compared to the previous year.

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Newest Listings in 02116, MA

What homes are available in 02116, MA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from MLS Property Information Network Inc., for the period 03/01/2023 - 03/01/2025

IDX Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 8:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.