Inventory is slipping and prices are rising. It's the perfect storm for a seller's market in the Hub.
Second-quarter statistics were released last week by the LINK Property Network and with the lack of inventory here in Boston, prices have continued to creep upward as demand outpaces supply.
Here are some of the neighborhood statistics from around the city of Boston as of June:
Back Bay
• 63 units — down from 115 this time last year.
• $1,100,000 average price of a two-bedroom condo — up from $997,918 last year.
• $600,971 average price of a one-bedroom condo — up from $589,302 last year.
Beacon Hill
• 23 units — down from 37 this time last year and 66 the year before.
• $760,820 average price of a two-bedroom condo — up from $735,230 last year.
• $446,461 average price of a one-bedroom condo — up from $427,606 last year.
South End
• 54 units — down from 102 this time last year and 154 the year before.
• $784,865 average price of a two-bedroom condo — up from $716,135 last year.
• $488,320 average price of a one-bedroom condo — up from $441,903 last year.
The net take-away continues to be that Boston is in a very short supply of inventory. It continues to be a Catch-22 in that sellers would like to sell but they in turn have no place to go.
With very little new construction over the past few years as a result of the recession, builders are working feverishly to catch up to the levels needed to keep in line with demand.
This isn't to say that by simply putting your property on the market in any of these neighborhoods that it will simply sell for a higher price than you may have purchased it for.
You still have to abide by the same market conditions that have always applied: such as how renovated your property is, how well maintained is the building in general, how healthy is the association, are there any property assessments due to be completed in the near future, etc.
All of these conditions would obviously affect your home's value. However, in general the market is good for sellers.
Charlie Abrahams is a licensed real estate agent in Boston who works with buyers and sellers and can be reached at: Bostonrealestate@ charlieabrahams.com.
Anda sedang membaca artikel tentang
Low home inventory causes prices to leap
Dengan url
http://warnakelabuabu.blogspot.com/2013/08/low-home-inventory-causes-prices-to-leap.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Low home inventory causes prices to leap
namun jangan lupa untuk meletakkan link
Low home inventory causes prices to leap
sebagai sumbernya
0 komentar:
Posting Komentar