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Boston Real Estate Market Update - 2Q 2014
For this update, I am going to be concentrating on the Boston real estate market for 2Q 2014.  All information was obtained from the Multiple Listing Service Property Information Network (MLSPIN)
The Boston real estate market is broken down into many different neighborhoods and it is impossible to give one “average” price for a Boston home.  Some areas (i.e.: Back Bay, Beacon Hill, South End) have some of the most expensive real estate in the United States.  Because Boston has a very expansive footprint coupled with very diverse housing stock there is usually “something for everyone” when it comes to finding a new home.  Key drivers for prices and appreciation tend to be location to Downtown; access to public transportation, amenities (in condo buildings) and lot size.
This update will focus on some of the areas that my clients have been focusing on in 2Q 2014.   A few overall observations are that Boston has a very limited supply of housing and new properties that hit the market tend to go very quickly, with multiple offers and, in many cases, significantly over asking prices.  In a nutshell - overall market conditions favor sellers rather than buyers and will continue into the foreseeable ... more

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