Spring and Early Summer Activity… The first half of the year was a banner year for the Boston Real Estate Market. Strong sales and increasing prices across all neighborhoods in the city continued over last year. Price per square foot is up and most average sales prices have gone up 2nd quarter this year compared to 2nd quarter last year. Interestingly, the number of sales in most downtown neighborhoods is down, which is more a reflection of the lack of inventory that we are continuing to see.
Looking Ahead to the Fall… All signs point to the robust market continuing. The all too common multiple offers, over asking prices and low days on market seems to be the new standard that shows no signs of letting up. Interest rates are still low which keeps demand strong.
For Buyers… With limited inventory and lots of competition for properties, this can be a frustrating market for buyers. They must be ready to jump when the right property comes on the market. This includes being pre-approved and having a solid down payment to make sure all of your financing is in order. It’s also more important than ever to have a strong buyer’s agent to guide you through the process and to help make your offer stand out among the competition.
via Blog | Amy Goldberg.