Boston Market Statistics for the Week of 03/07/14

Presenting you with your bi-monthly market stats for the Greater Boston area single family homes...

For single family Boston properties in zip code 02118 there was a total of 3 homes listed as of March 7th.   With an average of 4,391 square feet and 4.00 bedrooms, the median list price comes out to $2,995,000. No homes were newly listed. Finally, with an average of 98 days on the market, none of the 3 homes were absorbed.

Presenting you with your bi-monthly market stats for the Greater Boston area condos...

The numbers for Boston condos in zip code 02118 are promising. The median listing price was at $779,000 at a total inventory of 32. The average condo size is currently sitting at 1,304 square feet, along with an average of 1.84 bedrooms and 1.62 bathrooms. With an average of 33 days on the market, 10 of the 32 condos were absorbed.

Below is an interactive chart for zip code 02118, showing the 90 day average of Median home prices of Single Family Homes and Condos over the past several years.  Please feel free to use the bottom arrow to scroll through the data.  

Data provided by ©2013 Altos Research LLC

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!

Patti Fine

Phone: 617-642-7585
Email: pf@pattifine.com

Patti Fine Real Estate

Greater Boston Area Homes

Search Greater Boston Area Homes

Boston Market Statistics for the Week of 2/21/14

Presenting you with your bi-monthly market stats for the Greater Boston area single family homes...

For single family Boston properties in zip code 02116 there was a total of 9 homes listed as of February 21st.   With an average of 5,000 square feet and 4.89 bedrooms, the median list price comes out to $3,995,000. 0 homes were newly listed. Finally, with an average of 96 days on the market, 2 of the 9 homes were absorbed.

Presenting you with your bi-monthly market stats for the Greater Boston area condos...

The numbers for Boston condos in zip code 02116 are promising. The median listing price was at $1,399,500 at a total inventory of 66. The average condo size is currently sitting at 1,640 square feet, along with an average of 2.06 bedrooms and 2.08 bathrooms. With an average of 56 days on the market, 5 of the 66 condos were absorbed.

Below are the 7 day average price compared to the 90 day average price for Single Family Homes and Condos in 02116.

Data provided by ©2013 Altos Research LLC

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!

Patti Fine

Phone: 617-642-7585
Email: pf@pattifine.com

Patti Fine Real Estate

Greater Boston Area Homes

Search Greater Boston Area Homes

Why to Buy a Boston, MA Home This Holiday Season!

As your Boston real estate agent, I’d like to first wish you a happy holiday! Thanksgiving is tomorrow, and right afterward begins the never-ending lineup of holiday events around Boston, MA. Hopefully you are feeling rested and ready to spend time with family and friends.

Did you know that the holiday season is also an excellent time to buy a Boston home? I know it doesn’t seem like it, since everyone is so busy and the weather is so cold. Plus, inventory decreases in the winter, as not as many Boston home sellers get involved this time of year.

Even so, there are many perks to buying a Boston home in the winter! As your Boston real estate agent, I’ve summed up these perks here for you:

• Only serious home sellers are out. If you’re eager to buy a home, now is the time to do it. Only serious Boston home sellers have their homes listed right now, which means they are more likely to negotiate a price and agree to closing terms. They want to sell as much as you want to buy!

• You have less competition. Only serious Boston homebuyers are out buying during the holidays, too. That means you have less competition among other buyers now than you will come spring. This gives you more time to make decisions and negotiate terms.

• Lenders are loosening their requirements. With less business in the winter, lenders have more time to help you, the process will go much faster, and the down payment requirements aren’t as stiff. If you don’t have a lot of money saved, now is the time to apply for a mortgage!

• You’ll see the house in a new light. Find out what Boston homes look like in the dead of winter. This will allow you to get an idea of heating costs, insulation quality, snow drifts, drafts and more. It’s easy to make a home look good in the summer, but winter is the real deal!

• Home prices and mortgage rates are going up. In 2014, almost all real estate experts predict that home prices and mortgage rates will rise. This means more money upfront and a higher monthly mortgage. The sooner you buy, the less it’ll cost you!

As you can see, there are many benefits to buying a Boston home during the winter season. However, with less inventory of homes in the Boston real estate market right now, you might have to lessen your home requirements and know that you might not find exactly what you’re looking for. Or, maybe you will! There is only one way to find out.

When you’re ready to become a Boston homebuyer, or you have questions, contact me! As a Boston real estate agent, I’m always here to help you, no matter the season.

Have a wonderful Thanksgiving and a safe Black Friday!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Boston Market Statistics for the Week of 10/04/13

Presenting you with your bi-monthly market stats for the Greater Boston area single family homes...

For single family Boston properties in zip code 02129 there was a total of 9 homes listed as of October 4th.   With an average of 2,380 square feet and 3.22 bedrooms, the median list price comes out to $750,000. 2 of the 9 homes were actually newly listed. Finally, with an average of 52 days on the market.

Presenting you with your bi-monthly market stats for the Greater Boston area condos...

The numbers for Boston condos in zip code 02129 are promising. The median listing price was at $529,000 at a total inventory of 61. The average condo size is currently sitting at 1,759 square feet, along with an average of 1.95 bedrooms and 1.76 bathrooms. With an average of 31 days on the market, 13 of the 61 condos were absorbed.

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  

Below is an interactive chart for zip code 02129, showing the 90 day average of Median home prices of Single Family Homes and Condos over the past several years.  Please feel free to use the bottom arrow to scroll through the data.  

Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!

 Data provided by ©2013 Altos Research LLC

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Latest Boston Real Estate Market News!

Lots of new real estate reports have been released at the national and local level. As your Boston real estate agent, I’d like to keep you informed as much as possible about what is going on! If you’re gearing up to sell your Boston home, or to buy a Boston home, you should know what’s happening in the Boston real estate market.

The Case-Shiller Index released its latest report about home prices. Nationally, home prices jumped 12.2 percent in top metro markets from April to May. That’s a huge jump! Although, it’s important to know that this number includes the re-sale of foreclosures, which throws the number off a bit.

In Boston, MA, home prices rose by a modest 1.8 percent in May over April, according to Boston.com. This is a much better number to look at, considering it is based off local statistics only. Historically, home prices are still relatively low, so it’s still a good time to buy a Boston home.

It’s good news for Boston home sellers, too. While home prices only rose 1.8 percent month-to-month, prices are still up 7.5 percent from a year ago! Nationally, the median existing-home price rose 13.5 percent in June, compared to June 2012, according to the National Association of Realtors. So the Boston real estate market is doing quite well in its house recovery.

Another sign of a strong, permanent housing recovery is that foreclosure inventory and distressed sales have decreased to their lowest levels since tracking began in October 2008. All three housing measure index components rose as well. Home sale conditions rose five points, home sale expectations increased seven points, and traffic of prospective homebuyers rose five points.

What does all this mean? It means that housing sentiment is high! According to DS News, eight in 10 Americans believe that owning a home is a good financial decision. The number of renters who want to own is up, and more than half of renters say owning a home is a top priority, according to a NAR report.

What does all this mean for you? As a Boston home seller:

• Home prices and home values are rising, meaning you can sell your home for a great price!
• Buyers are eager, meaning your home is likely to sell very fast.
• Because mortgage rates and prices are rising, if you want to move up in the Boston real estate market, now is the time to do it.

What it means as a Boston homebuyer:

• Home prices are rising, but they’re still low by historical standards.
• Mortgage rates are rising too, so the sooner you buy a Boston home, the more you’ll save.
• Homebuyer sentiment is up and more renters are entering the market. Beat the competition!

If you have any questions about all this, contact me, your Boston real estate agent. I’d be happy to help you out!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes