Hot or Not in Boston Back Bay Luxury Real Estate?
Ranked at number 16 in "The 20 Hottest Markets this Spring" by Realtor Magazine Boston continues to be a very Hot market for Real Estate. As the following graph, courtesy of Trulia.com, shows sale prices for Boston Back Bay homes are up significantly over last year at this time.
Among millennials, roughly those people between 18 and 26, which account for 31% of home buyers Boston is ranked number 4 in the United States and Boston's Back Bay area is in my experience a favorite location for millennials. What millennial would not like the Bay restaurants and night life along with great access to public transportation?
Top 10 Markets to Watchin 2016
Realtor.com's chief economist, Jonathan Smoke, has this to say about Boston's Real Estate Market, "Some markets have been hot and continue to remain hot (San Diego, Sacramento, Boston, Atlanta)." He ranks Boston as the 10th hottest market in the United States.
What No one can predict with absolute certainty where the real estate market is heading.
But we all know that when something is hot it takes a while to cool down. Buying in the Bostons Back Bay is almost a guarantee of having a home that will appreciate in value. If you are thinking of selling then my advice is "Strike while the iron is hot", it could get hotter, but it could cool down.
Talk to Experts that Know Boston Back Bay Luxury Real Estate
If you need advice, have a real estate question, or want to buy or sell in the area why not connect with a team that knows the area, knows the market and will provide you with the individual attention you have earned?
Click on the above picture to contact the Back Bay Luxury Real Estate team.
Thanks for the comment