Boston Real Estate Sales Report June 2010 VS June 2011

Throughout the recession, cities like Boston and NYC have seen their real estate markets remain relatively stable but as the real estate market continues to recover, we are starting see some signs of weakness even in these stronger markets. While the median sales value increased in Boston experienced a 2.7% increase, total sales volume declined by 15%. There were a total of 771 homes sold in Boston during June 2010 and only 652 in June 2011. This decrease in volume is a sign that there are less buyers looking to purchase. The irony is that this is the ideal time to purchase especially if you are looking to by something to live in for more than 5 years. Real estate is cyclical and just as the market recently came crashing down, it will soon begin to ascend. If you're looking to purchase a property to hold long term, buying now is the smart thing to do. It doesn’t matter if you are an investor or owner occupant, as long as you are in it for the long haul. Buyers have more leverage in this market as opposed to when numerous buyers are causing bidding wars.