The most recent complete statistics for a month that we can
report comes from March of 2012. This is the month that proved a
continued upward trend in the real estate market not just in and
around the city of Boston, but throughout the whole of
Massachusetts. The Warren Group were the ones responsible for
enacting the study. A firm that is a leader in real estate and
financial information through their thorough comprehensive research
on detailed property and market information, their numbers are
always held in high regard. What was concluded was that for March,
single-family home sales increased by a very optimistic figure of
20%! From a 2,688 transactions in March of 2011 to this year
achieving 3,205 sales, there is much to get excited about as the
energetic Spring Market began to take off.
This runs parallel with our recent findings in our past blog that The
Warren Group also reported about how the first quarter in 2012 far
and away out performed the same quarter of 2011. This past blog
mentioned above largely focused on positive results in the town of
Somerville that have
translated to many of the other suburbs of Boston. As also briefly
touched upon in this previous post, despite this rise in sales,
there have nonetheless been a decrease in the median prices
achieved in these sales. This decrease surmounted to 3.3% to a
median price of $260,000. This past March was the sixth month in a
row where such prices have fallen, although it is not a sign of a
faltering market by any stretch.
For condominiums, the total number of sales and even the median
sales prices both rose across the State for March. Sales saw a bump
from 1,067 in March of 2011 to 1,189 this year, a 11.4% increase.
Moreover, the median sales price of a condo was $265,000 which was
up 15% in 2012 year-over-year. This trend will soon follow for
single-family homes as well, as Warren Group chief executive
Timothy M. Warren Jr. hinted. As sales continue to rise it is only
a matter of time until the lowering of prices becomes less and less
until they to see increases throughout all of Massachusetts.
Single-family homes are already in such a transition.
This year so far, all of the months are seemingly outdoing those
from previous years. This is a time where Massachusetts is
confidently taking a big step forward in attempts to accomplishing
a completely stable and developing Real Estate market for the
long-haul. That coupled with a broad-sweeping greater sense of
optimism regarding the economy, ones own job, and the sheer
excitement surrounding the many developments and businesses coming
to the region, there is no greater time to be a proud homeowner in
this State than now and clearly for years to come.
More Information: Boston.com