Real Estate – Average Sale Price
Real Estate – North of Boston
Average single family sale price over last 12 months (towns north of Boston):
1) Lexington – $1,011,605
2) Winchester – $954,376
3) Andover – $611,588
4) Lynnfield – $599,003
5) N. Andover – $496,793
Real Estate – Accepted Offers
Number of accepted offers over last 7 days in Boston: 1) South Boston – 49 2) South End – 40 3) Back Bay – 31 4) Charlestown – 30 5) N End / WF – 20 6) Beacon Hill – 16
Real Estate – More Bidding Wars to Come
I wasn’t sure it would be possible… but it looks like this Spring we will see more bidding wars than last. Inventory is down from last year and there are more buyers looking than ever. I submitted an offer yesterday competing against 22 other offers (9 of which were cash). If you are buying in/around Boston make sure to consult with someone who knows how to navigate these “wars”!
Real Estate – Price Per Square Foot; Cities
How many square feet does $1,000,000 get you?
1) 1,502sqft – San Francisco
2) 2,092sqft – Boston
3) 2,198sqft – Washington DC
4) 2,358sqft – New York City
5) 2,375sqft – Los Angeles
Real Estate – Choose the Right Agent
This is an interesting read, and one that I agree with. It should be much more difficult to obtain a real estate license and advise people on the biggest investment of their lives. Please do your research before choosing an agent!
http://www.boston.com/realestate/news/blogs/renow/2014/03/too_many_real_e.html
Real Estate – YTD Sales, 2013 vs 2014
Some locations have seen more inventory this year, but most are down. Year to date Sales 2013 / 2014:
South Boston – 40 / 50
South End – 44 / 36
Back Bay – 33 / 29
N End/WF – 11 / 26
Charlestown – 23 / 21
Beacon Hill – 13 / 11
Coolidge Corner – 8 / 11
Real Estate – Prevent Frozen Pipes
With what seems like a record number of frozen pipes this year… here are some things you can do to prevent it from happening:
1) Insulate pipes in unheated areas (beneath sinks, basements, crawl spaces; etc).
2) Allow a slow trickle of water in sinks during extreme cold.
3) Keep cabinet doors beneath sinks open during extreme cold.
4) Seal air leaks in foundation with foam or insulation.
5) Know where shut off valve is incase pipes do freeze. This will minimize damage if they burst.
Real Estate – Property Taxes Down
Surprisingly, the 2014 Boston real estate tax dropped from $13.14 per thousand (of assessed value) in 2013, to $12.58. This seems like good news… but it is basically a wash because most assessed values increased.
Real Estate – Home Improvement Projects
The real estate market in 2013 was one of the most remarkable years that we have ever experienced. Not just here in the Bay State, but also across much of the country, most markets realized superb boosts in prices, sales volume, construction starts, and record times for getting a property to the closing table after it has been active on the market. Now, a recent study from Harvard University has concluded that because of the above factors, the nation’s home remodeling market is also primed for success in this calendar year.
Real Estate – Average Sale Price
2013 Average Sale Price, Condos:
1) Back Bay – $1,226,083
2) Beacon Hill – $883,316
3) N End/Waterfront – $807,718
4) South End – $780,098
5) Seaport – $715,206
6) Coolidge Corner – $617,926
7) Charlestown – $566,090
8) South Boston – $462,577