Market Report for Quarter 3, 2017

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Quarterly Boston Market Report

market_stats_cover_imageWhether you are buying or selling, knowing the market is vital to make good real estate decisions. Accurate, micro-local market data is the only way to truly understand the market and where it is going. 

With this report, you'll have the best local information available at your fingertips! Here are some fast facts you will find in this report:

Metro Boston Fast Facts

  • Average sale prices increased by 1.4% year over year (3Q2017: $770K VS  3Q2016: $759K)
  • Condos are selling faster than same period last year, average days on the market during this quarter was 33 vs 38 during 3rd quarter in 2016.
  • Inventory remains low (936) as well as absorption(1.3 months)
  • Sales Closed 2.1% over its listing price.

Boston Luxury Market (Top 10%)

  • Average sale price for this market decreased  by 11% (3Q2017: $2,731,649  Vs  3Q2016: $3,080,435)
  • On average, condos in this market sold 2.4% below the listing price.
  • Total volume of this market was $347 million.
  • Number of sales decreased by 4% year over year (3Q2017: 127 Vs 3Q2016: 132)

City of Boston

  • Average sale prices decreased by 5% year over year (3Q2017: $81K Vs 3Q2016: $861K)
  • Condos sold 12% faster than same quarter last year (3Q2017: 37 DOM Vs 3Q2016: 42 DOM)
  • Number of sales decreased by 1% year over year (3Q2017: 1300 Vs 3Q2016: 1289)
  • Condos in this area sold 1.2%  above its listing price
  • Most expensive neighborhoods to buy a condo this quarter were Midtown, Beacon Hill and Back Bay
  • Most affordable neighborhoods to buy a condo this quarter were Mattapan, Hyde Park and West Roxbury.

After months and months of searching with various real estate agents, I found my home with the help of Charlesgate Realty Group. Right when I walked through the doors, I felt like family in a way that Charlesgate Realty just knew what type of home that would best suit me. With all those other real estate agents, I had felt uneasy, not cared for and just another commission. Charlesgate Realty extended themselves to great distances with their friendly personalities, expertise, and knowledge. I was able to quickly find the perfect home. THANK YOU!!

 - Kay C.
South End