While it certainly is true that the real estate market,
especially in and around Boston, has shown great signs of
improvement as of late, however if magnified this success is
defined in quite a different way. Although there have been numbers
reported that the most recent months of 2012 have seen vast
increases in home prices and frequency of sales when compared to
the same months of 2011, this is only in certain areas of the
State.
The stabilization of prices when looked at the broader scale of
Massachusetts is what has been realized from the present day dating
back three years. However, with such fluctuations occurring across
the nation, this stability has proven to be a strong platform for
real estate and economic growth in and around our great city of
Boston.
Where the stabilization is happening is mostly on the eastern
portion of the State, with the price per square foot of homes
staying roughly consistent as well as the ratio between the list
price and the sale price of a property. It must be noted that this
is measuring the final listing price before the home was sold,
therefore it could have been the only value placed on the home or
it could have been one with many price revisions. Regardless,
properties have been trading on average between 93-96% of the list
price.
Finally, this all can summed up to realize that people are not
pricing their homes out of the market. Sellers working along with
their knowledgeable agent are understanding where the market is and
are thus pricing it in the proper range that attract the most
prospective buyers as possible. The market is looking rather
predictable, but predictable from a position of strength, trust and
optimism for the future.
More Information:
Boston.com