It’s a great time for Boston area real estate. We have seen
great strides made by many Massachusetts neighborhoods in
comparison to those nationwide. Bloomberg
Businessweek recently posted a list of the top 25 housing
markets in the country and an additional bottom 25 real estate
markets during the time period from February of 2009 until August,
2011.
The data depicts the Greater Boston Area as one that has
performed well after the recession. More so, there are tentative
signs of a turnaround. As we proudly shared in previous blog posts,
the rise in International
interest to our communities, increasing condominium
sales, and Bostons surge in
commercial real estate, to name a few, all have set up our
surrounding areas housing markets to succeed from now and into the
future.
In the list of the top 25, Virginia had the most places
mentioned with 9, while Massachusetts as a state had the second
most with 4 neighborhoods making the list. No other state had more
than one single area represented. For the list of the worst
performing localities, Massachusetts did not have one
neighborhood represented in the bottom 25, another great
feat showing our consistency across the board. So which places made
the cut?
- #2 – Arlington, Massachusetts was ranked as #2
on the list! It was found that from the previously mentioned time
span of February 2009-August 2011 there was a +14.8% increase in
median home values which was $475,800 this August with a median
sales price of $468,200 as of the 31st of July. - #3 – Brookline
came in at the 3rd position with a +13.6% increase in median home
values! This brought results of a median home value of $506,900 in
August and a median sales price of $513,200 as of the 31st of
July. - #14 – Boston came in 14th with a median
increase of +10.4% in home values! For August there was a median
home value of $333,500 and as of September 30th the median sales
price was $395,300. - #18 – Finally, the last recognized portion of our state was
Somerville. As #18 out of the top 25 with a +8.7%
increase, the median home value was $357,400 for August of this
year with the median sales price on September 30th being
$380,300.
One would be hard-pressed to find more trustworthy, stable and
recently increasing real estate markets than the
ones we are living in today in and around Boston.
It is evident that our neighborhoods complement, balance and
strengthen one another and will continue to do so. There is no
better time to contact a Gibson Sothebys International Realty.
For more information you can view the Bloomberg Businessweek
article here.