Real Estate — Value and Volume
The most recent complete statistics for a month that we can report comes from March of 2012. This is the month that proved a continued upward trend in the real estate market not just in and around the city of Boston, but throughout the whole of Massachusetts. What was concluded was that for March, single-family home sales increased by a very optimistic figure of 20%! From a 2,688 transactions in March of 2011 to this year achieving 3,205 sales, there is much to get excited about as the energetic ‘Spring Market’ began to take off.
For condominiums, the total number of sales and even the median sales prices both rose across the State for March. Sales saw a bump from 1,067 in March of 2011 to 1,189 this year, a 11.4% increase. Moreover, the median sales price of a condo was $265,000 which was up 15% in 2012 year-over-year. As sales continue to rise it is only a matter of time until the lowering of prices becomes less and less until they to see increases throughout all of Massachusetts. Single-family homes are already in such a transition.