Two reports released Wednesday affirmed the autumn housing market is thriving and healthy in Boston. The cost of a single-family home in Massachusetts in September averaged $472,000, which reflects an 18 percent year-over-year increase. Furthermore, sales were up more than 27 percent, according to a report by The Warren Group, a real estate analytics firm.
Historically in September the real estate market sees a significant slowdown in single-family home sales, but this proved not to be the case in 2020. As expected, Suffolk and Middlesex counties were the primary drivers behind the significant uptick in condo sales in September.
In Greater Boston, sales of condos and single-family homes rallied, according to a report the Greater Boston Association of Realtors released Wednesday. The condo market experienced a 19.1 percent year-over-year increase in sales and a median price jump of 7.7 percent to $592,500. The median price for a single-family home rose 12.4 percent year over year to $680,000, and sales skyrocketed 32.2 percent.
Even throughout the pandemic and impending presidential election, the Boston real estate market still holds a lack of housing inventory, which is driving prices up.
No comments :
Post a Comment