Home sales reports will tell you a lot about what is going on in a local market. They could shift continuously, so it is helpful to stay up to date if you are looking to purchase or sell in Boston. The condo market statistics for Boston MA 2017 2nd quarter in this blog will be useful if you wish to buy or sell in Boston.
Condo Property Prices in Boston MA
Home prices offer a simple glance of a certain market. During 2nd quarter 2017, condo Boston MA houses sold for 866893 on average. For a similar time period the prior year, that figure was $788,907. Therefore, it increased 9.89 %. In the year before that, it was $725,448.
Activity in the Boston MA Market
Evaluating total number of properties sold is helpful for a few reasons. Few sales typically indicate lack of inventory, which then leads to a build up of demand and increase in prices. This is usually seen in a sellers market. Alternatively, too much inventory can create a surplus. Home buyers will receive the upper-hand in this case since sellers will vie to get their properties sold.
In Boston MA for the 2nd quarter 2017, the total number of properties sold was 1290. This is a -0.31% difference from the prior year (which was1294). Before that, it shifted 2.62% from 1261 to 1294.
Boston MA 2017 2nd Quarter Average Listing Time Frame
Average listing time frameis the time it takes for a property to get under agreement. It can you offer a sense of how hot the market may be and what leverage, if any, you could have as either a buyer or seller. When listings are selling in fewer days, as a prospective buyer, you may not have the option of waiting to make a decision as the home may go under agreement really fast. As a seller, it is important to establish proper expectations for marketing time. Do not forget that the listed price and presentation of a certain house can influence this time frame.
The Average listing time frame in Boston MA for the 2nd quarter decreased -19.57% from 46 to 37. In the time frame before that, it changed 9.52% from 42 to 46.
Condo Market Statistics For Boston MA 2017 2nd Quarter
For additional condo market statistics for Boston MA 2017 2nd quarter or details for nearby cities and towns, please contact Christopher Graves , Sales Manager at Sierra Pacific Mortgage Company These figures were obtained from the MA MLS Property Information Network, Inc. It is meant to offer a basic understanding of the real estate market, is not certified accurate, and might not encompass every single condo sold in Boston.