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Rental Market Report | Boston | June 30, 2023 vs. June 30, 2024

We're seeing a lot more rental inventory than last year (almost 40% more). Subsequently, were seeing a smaller, but significant increase in median days on market. This illustrates that the rental market is moving a bit slower than it was last summer, which may be due to continually stabilized interest rates increasing sales demand. 

We see an opposite trend in year-to-date. Increasing rental demand, and competition, is a continued effect of housing inventory not being able to keep up with increasing numbers of students, interns, and professionals moving to the Boston area. 


(sourced from MLS)

Listing Units: 1547 vs. 2155
Median Days on Market: 24 vs. 27
Median List Price: $3,600.00 vs. $3,600.00
Median List $ / SqFt: $3.66 vs. $3.75

Closed Units (Sold): 4193 vs. 4088
Median Days on Market: 18 vs. 22
Median Days to Offer: 16 vs. 19
Median Sale Price: $3,200.00 vs. $3,300.00
Median Sale $ / SqFt: $3.67 vs. $3.85

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