Greater Boston Area 2017 vs. 2016 Real Estate Comparison

 

2017 was a strong year for local real estate markets, as selling prices rose and inventory remained low. Across the fifteen towns we aggregated, average selling prices for single family homes rose 6% and prices for condos rose 5.7%. Single family home selling prices rose the most in Brookline (18%), and performed the worst in Weston (-5%).

Although prices rose across the board in 2017, market activity was down slightly. The number of single family home sales fell an average of 2.7% and the number of condo sales fell an average of 1.2%. This reduced volume can be explained by the low inventory seen in local markets.

What will be the best area to purchase real estate in 2018? What segments of the market will remain hot, and what segments will not do so well in the near future? If you own a property, when is the best time to sell it? Reach out to me today to hear my views on the market and information about properties that are a good fit for you! Contact me at [email protected] or (617) 721-5343.

Sincerely,

Naomi

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