Home sales figures can tell you quite a bit about the condition of a local market. Trends willl shift often, so it is helpful to remain current if you are contemplating purchasing or listing in Boston. The 3rd quarter 2016 Boston MA condo home statistics in this blog may be useful if you are contemplating buying or selling in Boston.
Boston MA condo Home Prices
Average selling prices offer a simple snapshot of a local market. During 3rd quarter 2016, condo Boston MA homes had an average sale price of 865428. For the corresponding time period the last year, that average was $690,139. It therefore increased 25.4 %. Before that, the amount was $640,416.
Volume of Listings Sold in Boston MA
Looking at listing volume will give you hints on the real estate market. Low figures typically result from little inventory, which contributes to a build up of demand and push up home prices. This is often seen in a sellers market. Alternatively, a lot of inventory can result in an excess. Buyers will have the advantage in this case since sellers will compete for fewer buyers.
In Boston MA for the 3rd quarter 2016, the listing volume was 1289. This is a -9.03% change from the prior year (which was1417). Before that, it shifted 8.25% from 1309 to 1417.
2016 3rd Quarter Average Marketing Time Frame in Boston MA
Average marketing time frame tell you the length of time it requires for a home to go under contract. It will you give a hint on how hot the market may be and what leverage, if any, you could have as either a buyer or seller. When homes are moving in a short time period, as a home buyer, you may not have the benefit of waiting before making a decision as the home might no longer be on the market. As someone looking to sell, it is important to establish proper expectations for marketing time. Remember that the listing price and curb appeal of a certain home will influence that also.
The Average marketing time frame in Boston MA for the 3rd quarter decreased -2.33% from 43 to 42. In the time frame before that, it changed -2.27% from 44 to 43.
3rd Quarter 2016 Boston MA Condo Home Statistics
For more 3rd quarter 2016 Boston MA condo home statistics or details for other neighborhoods, please contact Bill Kuhlman , Realtor at Kuhlman Residential These statistics were obtained from the MLS Property Information Network, Inc. It is intended to provide a basic overview of the real estate market, is not guaranteed accurate, and might not necessarily include every single condo transacted in Boston.