With our national economic recovery picking up steam on top of tales from a crazy Boston real estate market like multiple offers, limited inventory for sale, and condo developments selling out in a weekend at over asking price, is the Boston market primed to move consistently upward? February market stats would seem to indicate that.
In the Greater Boston area, real estate sales were up 25% and prices were up 4% in February, compared to February 2011. Here’s how it breaks down for February of each year since 2000 (single family home sales and prices, followed by condo stats):
There you have a pretty clear picture of February Boston real estate market stats, which certainly give the impression that the market is in full recovery. Though I always caution reading too much into one month’s statistics in a vacuum, the signs do seem positive – especially taking into account the “bigger picture” annual stats I previously posted.
