Following the Market-Today in Real Estate.

By
Real Estate Agent with YourStories Realty Group powered by Castles Unlimited® MA# 9517963

Studio for Sale in BostonFollowing the Market-Today in Real Estate. Real estate is a fluid market. The pendulum swings from Buyers to Sellers, from an Up market to a Down market, the fluidity can be momentary.  For instance last year it was a crazy busy Spring Market. If you remember there were multiply offers on each and every listing that came on the market at that time.  By the time July rolled around those listings that waited were hurt by the fact the market stalled through the end of the summer.  This Spring it feels as though the market is slowing again.  This is all boots on the ground feeling. Less calls, less offers, less clients offering is what many are feeling in the Boston Area Move In Homes location. The photos here are from MLS listing #71679577. 1391 Hyde Park Avenue Studio A, Hyde Park, Boston, MA

For the Wellesley, Weston, Wayland, Westwood, Milton, Newton and Back Bay areas from March of 2013 to today   Single Family Listings: 223    Avg. Liv.Area SqFt: 3,219.04    Avg. List$: $1,204,496    Avg. List$/SqFt: $358    Avg. DOM: 90.35   Avg. Sale$: $1,157,160   Avg. Sale$/SqFt: $353

This year the statistics are remarkably similar . Single Family Listings: 218    Avg. Liv.Area SqFt: 3,303.20    Avg. List$: $1,242,615    Avg. List$/SqFt: $381    Avg. DOM: 86.99   Avg. Sale$: $1,219,619   Avg. Sale$/SqFt: $380. The number of homes is similar, Days on Market is not too different, both Sales Price and Average Square foot price are both up.  So the statistics do not back up my feeling today.

Condo for Sale in Boston

Condo for Sale in BostonReading what the media writes about real estate is not the true up to date information.  Much of it has to do with what is going on in the street during the day. With less activity the numbers will fall off. We know the numbers fell off after July of last year and so if you are planning on selling, now is a better time than later this Spring/Summer.

From March 2013 to May 19,2013  Condominium Listings: 114    Avg. Liv.Area SqFt: 1,792.67    Avg. List$: $1,302,116    Avg. List$/SqFt: $740    Avg. DOM: 73.49   Avg. Sale$: $1,257,495   Avg. Sale$/SqFt: $719

From March 2014 until today. Condominium Listings: 113    Avg. Liv.Area SqFt: 2,028.19    Avg. List$: $1,577,096    Avg. List$/SqFt: $757    Avg. DOM: 78.77   Avg. Sale$: $1,521,160   Avg. Sale$/SqFt: $741 Number of condo Sales is almost the same with the Days on Market dropping 10 days on average while the pricing and the price per square foot has gone up. So all of you who bought last year have made some new equity because of the market growth.  It is still a good time and statistically a better time to sell now if you are considering do so at all this year.  Following the Market is something all Agents must do so they can inform you on Today in Real Estate.

Posted by

Larry Lawfer, Realtor®YourStories Realty, It's all about you,

Larry Lawfer

Partner

Realtor®, Director of Marketing

YourStories Realty Group powered by Castles Unlimited®

837 Beacon St

Newton, MA 02459

larry@yourstoriesrealty.com, 617-774-8292

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Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Larry, whether the market is up or down, we must continue to move forward! Enjoy the journey!

 

May 19, 2014 09:40 PM #1
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Larry Lawfer
YourStories Realty Group powered by Castles Unlimited® - Newton, MA
"I listen for a living." It's all about you.

Wayne, I do enjoy the journey, not just every day. Some days are harder than others, but today is a fully executed P&S day and I like them almost as much as the pending close day (settlement day in some states)

May 19, 2014 09:46 PM #2
Rainmaker
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ReadySetLoan Condo Approval Team
ReadySetLoan Condo Team LLC - South Windsor, CT
The FHA/VA Condo Project Approval Specialists

Larry, it irritates me to no end when the media speaks about real estate as though it were a national market.  There is no such thing!  Their articles and broadcasts find the worst areas of the country and paint the rest of the country with that broad brush.  Enjoy your spring/summer market!

May 19, 2014 11:06 PM #3
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Larry Lawfer
YourStories Realty Group powered by Castles Unlimited® - Newton, MA
"I listen for a living." It's all about you.

That is so true Eric, the national trends do not mean that is what the local market is experiencing.  Frankly, we in the business know that the trends can vary from block to block. Thanks for stopping by

May 20, 2014 09:55 PM #4
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