Boston MA Single Family Real Estate Market Report For The 3rd Quarter 2015

Market statistics can give you a sense of what is going on in a particular market and how that may compare to the past. Since things normal change continually in the real estate industry, staying up to date on current conditions can help you with buying or selling a home. Below is the Boston MA single family real estate market report for the 3rd quarter 2015.

Prices of Single Family Homes in Boston MA

During the 3rd quarter 2015, single family real estate in Boston MA sold for $707,094 on average. During this same period of time in 2014, that average was $633,398. This is a 11.64 % increase in prices. In 20163, the average price was $552,277. So, within a 2 year period, prices have climbed 28%.

2015 $707,094
2014 $633,398
2013 $552,277

Boston MA Real Estate Market Activity Overview

In Boston MA for the 3rd quarter 2015, the number of properties sold was 342. This increased 10.09% from the year before (which was 303). Prior to that, it dropped 10.09% from 337 to 303. Although there is more inventory this year than last, homes are still selling for a higher price. This tells us that demand is also higher and although inventory may have increased, it is still not keeping up with the level of demand.

2015 342
2014 303
2013 337

2015 3rd Quarter Average Marketing Time Frame in Boston MA

The Average marketing time frame in Boston MA for the 3rd quarter decreased -4.26% from 47 to 45. The year before, it was 40 days. This change over the last few years is not significant. These figures do not reflect the fact that most properly priced listings are actually selling within days and with bidding wars.

2015 45
2014 47
2013 40

Boston MA Single Family Real Estate Market Report For The 3rd Quarter 2015

The Boston market is quite hot right now. It’s truly a great time to sell. If you price your property correctly and have a home in good condition, it will likely sell within the first week of going to market. For buyers, it’s a much more difficult situation. Getting a home often means needing to act fast and competing with many other buyers. Therefore, buying can take much longer than in past years.

The Boston MA single family real estate market report for the 3rd quarter 2015 figures above are based on properties listed in the local MLS system. If you would like assistance with buying or selling a home in or around Boston, we would be happy to refer you to a local real estate agent. Also, don’t forget to contact us for free quotes on homeowner’s insurance for your new home! We can help identify ways to save you money while protecting one of the biggest investments that you will make in your lifetime.