Perspective: Greater Boston Real Estate Prices Since 1996

Posted by Michael DiMella on Thu, Jan 27, 2011

The graph below shows a long term view of home sales and prices in the Greater Boston region real estate market (made up of the 54 cities and towns more or less within the Rt. 495 belt west of Boston) since 1996.

As you can see, the number of sales is still off the peak substantially - but for what matters most to home buyers and sellers, prices began to rebound off the bottom in 2010.  In fact, single family prices in 2010 were off their peak (in 2005) by only 7%, and condos were off their peak (in 2007) by less than 2%. 


Boston real estate market prices since 1996


Perspective is a useful thing, especially in the midst of the 24 hour news cycle and exaggerated headlines.  The "real estate market crash", although certainly having a significant effect on many people, has been far less pronounced around Boston than in some other parts of the country.



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Tags: Boston real estate, housing market, home values