As you are no doubt aware the Boston real estate market is white hot. Homebuyers are very active in the marketplace, and home sellers are scarce. The inequality of demand to supply has lead to historic low housing inventory levels and has kept most of greater Boston real estate in the grips of a seller's market for years.
February condo sales closed down by almost two percent compared to the year before. Median prices continued to go up as supply continues to be down. Sellers were waiting out Mother Nature to add their homes to the market keeping new listings down in February.
Heres February 2015s Monthly Multi-family Housing Activity Report from the Greater Boston Association of Realtors.
(Multi-family housing activity comparing February 2015 to February 2014)
What fuels Boston real estate values? The answer is the same thing that fuels the rest of us: coffee. In fact, the value of homes within a quarter-mile of a Starbucks rise faster than those that aren't, according to a recent Zillow study.
Only real estate professionals who are members of NATIONAL ASSOCIATION OF REALTORS® may call themselves REALTORS®. All REALTORS® must subscribe to NAR’s strict code of ethics, which is based on honesty, professionalism and the protection of the public.
