Following up on my last post on the luxury market above $1 million (and for all of us "common folk" out there that can't quite afford to enter the booming Boston real estate luxury market by purchasing one of these homes), here are a few details on the downtown* Boston condo market below that mark:
Tags: Boston condos
In 2010, there were 423 homes (single family and condos) in Boston sold for over $1 million equaling a total dollar value of $824,000,000.
That is UP 61.3% from 2009. Surprised? I am. So much for the "great recession", at least for the $1M+ market segment.
But hey, 2009 was a dismal year, so the luxury market being up comparatively in 2010 is no surprise....right?
But....2010 was UP more than 23% compared to both 2007 and 2008 as well.
Let's have a look at the Boston luxury market stats (data from MLS):
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%.
FEBRUARY 1, 2011 UPDATE: Due to popular demand (aka...selling out our first two sessions in January!) we're adding several more home buyer classes to our schedule. Please visit this page for the updated schedule.
We're hosting our first Boston Home Buyer class of 2011 on Tuesday, January 18th at 6:00pm (and due to demand, we just added our second class of the year on January 25 at 6pm). If you are thinking of buying a new home in Boston in the near future, there's no better place to learn the process than at our free, informal home buyer class.
[This is a post from James Marsden, a Buyer Agent at Charlesgate Realty Group. If you have questions, please contact James].
Based in the jump in the number of foreclosure petitions issued by banks (the first step in the foreclosure process) in Massachusetts in 2010, foreclosed properties should continue to play a large role in the Boston real estate market.
While foreclosures can be an awesome deal, searching for and buying a foreclosed property in Boston and the surrounding area is a daunting task. Property being foreclosed on is sometimes referred to as a Short Sale, a Pre-Foreclosure, Off Market Pending Eviction, REO, Bank Owned, Lender Owned, or some other technical term.
Each one of these terms and status have an impact on not only how much you offer for a property but how you can even find the properties and to whom the offer should be made.
Wow!! We got a good amount of toys this year for Toys for Tots with such short notice. I think we had around 40, give or take a few. We would just like to thank EVERYONE who contributed and took the time and effort to donate this year!!
As long as it wasn’t cropped, shot through a fish eye lenses, run through a filter, had the brightness played with…among other tricks.
I love shopping on line. It fact there have been days when I can honestly utter the phrase…”see what I’m wearing…bought it all on-line”. However sometimes when the package arrives I have to send it back. It just wasn’t the same as it looked on the web site.
A question I am often asked by clients is, "How can I make sure the condo I am buying is pet friendly?" It's a great question. If you're a buyer who say owns an 80lb Lab, it's important to find out ahead of time if an association allows a pet. That's my job as a buyer's agent to find out. And it really all comes down to the condo association rules.
[This is a post from James Marsden, a buyer agent on our team here at Charlesgate Realty Group. If you have any questions, please comment below or contact James].
Hey everyone!! It’s that time of the year again here at Charlesgate Realty Group! Drop off your toy donation at Charlesgate Realty Group and we will donate a toy for every rental or sale, or you can just come on by and drop off your toys. We're looking to beat last year's donation!! We donated over 50 toys last year! Every little bit helps!!