Tight listing inventories are likely to constrain growth in 2013 home sales, the National Association of Realtors said in releasing a report showing that pending sales dropped 4.3 percent from November to December.
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According to the latest quarterly report by the National Association of Realtors, growth in metropolitan area median home prices increased in the third quarter, and more areas are showing gains.
Read More »The tour, to be held on Saturday, Oct. 20 from 10 a.m. to 5 p.m., is a self-guided walk through six amazing South End homes starting at the Southwest Corridor and ending mid-way down Shawmut Avenue. Since the tour is at-your-own-pace and snakes around on a more than 1 mile path, the full tour can take anywhere from two to four hours. It starts at the Boston Center for the Arts.
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The Big Number is 21%. That’s the increase in condo sales in Boston at the end of the 3rd quarter, September 30. Combined, all Boston neighborhoods saw a 21% increase in the number of condo sales year to date, a 3% increase in the average price of a condominium sold to $545K, and an 8% increase in the median sales price to $409K. This real estate market is healthy except for the continuing decrease in inventory levels. Inventory levels of available condo’s for sale have fallen 41% to 919 properties for sale versus 1,567 at this time last year.
Read More »My good friend, excellent agent and blogger Briggs Johnson at Coldwell Banker Residential Brokerage hits it squarely on the mark with this post which illustrates the decrease in inventory year over year and its potential effect on the market. I have posted it in its entirety below. Visit his blog.
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The median price in a dozen downtown neighborhoods — they include Beacon Hill, the Fenway, the North End, and South Boston — climbed to $515,000 during the three months that ended June 30, according to LINK, meaning half sold for more than that price and half for less. That topped the previous peak of $498,500 in 2008, just prior to the nation’s financial crisis. LINK, a Boston company, tracks the downtown condominium market.
The increase adds to mounting evidence that the state’s housing market is on the mend, housing specialists said.
The comeback in home sales that many of us have been seeing hints of is now backed up with solid numbers. All reports are showing sales increases as well as declining inventory levels. Second quarter sales reports will show terrific numbers especially in downtown Boston neighborhoods
Read More »The supply and demand dynamic is firmly in place in downtown Boston neighborhoods with not enough property for sale relative to buyer demand. Taking all Boston neighborhoods together condominium inventory is down 32% from the same time last year.
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Excellent news for Boston is that condominium sales ross in the first quarter when compared with last year. All Boston neighborhoods combined saw an 8% increase in sales…
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I love getting my hands on “hot off the presses” year-end sales results from MLSPIN, the real estate industry’s listing data platform. The South End and the $1M+ markets in particular have fared well…
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