Boston Real Estate Market Sees Significant Upswing
Good news for those looking to buy or sell property in Beantown. HouseSavvy, a real estate consulting organization, has released data that indicates the Greater Boston Real Estate market is currently one of the healthiest in the country. This is due in large part to a recent surge in sales activity in the 167 towns and cities within the six counties surrounding Boston.
Residential sales activity from December to March increased 37 percent (from 1,830 to 2,509), a substantially higher seasonal increase than normal. This short-term positive indicator is supported in the long-term as well — the average sales price in the greater Boston area increased 3.2 percent in March, year-over-year (from $371,776 to $383,645).
While the market is indeed showing signs of a quickening pulse, HouseSavvy chairman Walter Hall cautions homeowners not to be mislead by the overall market data.
He said, “The greater Boston market should be viewed as a macro-market consisting of thousands of micro-markets made up of broad suburban areas, specific communities and neighborhoods, as well as distinct price ranges. Home values and trends in these micro-markets can vary significantly from the macro market in which they reside.”
—Alexandra Gehringer
It indeed is a good news for both buyers and sellers. At least the news tell us that the boston has a good economic status. Nothing can be better than that.