November 2016 Greater Boston Real Estate Market Trends

Here’s November 2016’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


November 2016 Greater Boston Real Estate Market Trends

The story has remained consistent as concerns residential real estate. In year-over-year comparisons, the number of homes for sale has been fewer in most communities. Meanwhile, homes are selling in fewer days and for higher prices. This hasn’t always been the case, but it has occurred with enough regularity and for enough time to make it a trend for the entirety of 2016.

Condominium
  • November condo sales UP +7.2%
  • Median prices UP +10.2% ($496,500)
  • Condo inventory DOWN -27.4% to 1,318
  • Listings added to the market DOWN -2.6% over last year (740 from 760 in 2015)
Single-Family
  • November single-family home sales UP +16.8%
  • Median prices UP +1.5% ($524,500)
  • Single-family inventory DOWN -30.4% to 2,190
  • Listings added to the market DOWN -4.0% over last year (842 from 877 in 2015)
Multi-Family
  • November multi-family home sales UP +25.2%
  • Median prices UP +10.4% ($607,000)
  • Multi-family inventory DOWN -56.5% over last year (238 from 547 in 2015)
  • Listings added to market DOWN -12.6% over last year (181 from 207 in 2015)

Interested In Specific Neighborhood / Area Real Estate Market Trend Data?

 

Boston Real Estate Market Trends | November Monthly Indicators

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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October 2016 Greater Boston Real Estate Market Trends

Here’s October 2016’s Monthly Indicators report from the Greater Boston Association of Realtors® showing Boston real estate market trends.


October 2016 Greater Boston Real Estate Market Trends

As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon.

Condominium
  • October condo sales DOWN -1.3%
  • Median prices UP +5.3% ($479,238)
  • Condo inventory DOWN -21.2% to 1,616
  • Listings added to the market DOWN -7.8% over last year (1,063 from 1,153 in 2015)
Single-Family
  • October single-family home sales DOWN -15.0%
  • Median prices UP +10.8% ($526,300)
  • Single-family inventory DOWN -26.4% to 2,769
  • Listings added to the market DOWN -16.4% over last year (1,274 from 1,524 in 2015)
Multi-Family
  • October multi-family home sales DOWN -9.0%
  • Median prices UP +8.1% ($616,000)
  • Multi-family inventory DOWN -51.6% over last year (297 from 614 in 2015)
  • Listings added to market DOWN -24.4% over last year (232 from 307 in 2015)

Interested In Specific Neighborhood / Area Real Estate Market Trend Data?

 

October 2016 Boston Real Estate Monthly Indicators Report

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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The Time You Take To Prepare Your Home For Sale Will Prove Invaluable

Proper preparation, careful decisions, and the expertise of a Realtor can minimize the feelings of stress and anxiety when it comes to selling your home.

Start now to be prepared.

Review all property paperwork, and prepare your documents to be complete and readily available. (Deed/mortgage satisfaction, letter/copies of rental agreements, utility bills, tax bills, etc.) It’s important not only to prepare your home for sale, but to be prepared yourself for inquiries that might arise that your listing agent, attorney or potential buyers will request.

The right price means a successful sale.
Pricing your home is both an art and a science. Working with a Realtor gives you the added expertise to help maximize the profit from your home by conducting a Comparative Market Analysis.

First impressions are lasting impressions. At Unit Realty Group we will work with you to prepare your home the right way in order to maximize it’s value. We make recommendations for the proper home staging, paint color, repairs and replacements. The buyer’s journey begins online so we believe it is important to have professional photography that advertises your home in the best possible light, in the most visible outlets in your area.

Hold an Open House right away. I strongly recommend holding an open house the first week your home is on the market. When planning a successful open house we consider several important factors.

  1. Scheduling: Look into state and local events. (Are the Patriots playing Sunday afternoon? We know Bostonians are die hard football fans so we avoid times prospective buyers may be glued to the TV cheering on their team.)
  2. Timing: Consider various days of the week and times of day. (Accommodate all prospective buyers. Can the after work commuters stop by in the evening? Can the couple drop in before heading to the little league game over the weekend?)
  3. Forecast: Weather can draw people to or from the city. (Is it an ideal weekend to get away and head to the beach? Is it apple picking season? Is it a long holiday weekend?)
  4. Exceptional Service: Help prospective buyers maximize their time in the unit. (At Unit Realty Group we use wayfinding signage to direct buyers to the unit. We are sure to provide an inviting and informative experience for open house visitors.)

Open House Doorbell

Bottom Line

Start early, educate yourself and chose the right agent.

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

More Posts - Website

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