Do You Trust Us?

Then believe us when we say…. 2014 is going to be a STELLAR year for Boston real estate!

Greater Boston Association of Realtors just released their year end market statistics, indicating changes over the previous year. By looking at the median sales price, number of closed sales, days on market, and various other stats, we can get an idea of where the market has gone over the past year. And, using our real estate brains, make some predictions as to where it will be headed in 2014.

A few of our agents made their own predictions, did you see them?

• Meredith Kiep talks about how she relates this year to previous ones in this quick video.
• Bobby Quinn takes on the Multifamily Market and gives some investment tips in this article.
• PT Vineburgh gives 5 reasons that he thinks the market will be HOT in 2014.
• Joshua Dawson gives some political data that helps substantiate his market claims.

But what do the numbers show?

Well, in a nutshell, they seem to indicate that these agents are probably right! As you can see from our most recent market report, things in 2013 looked great!

Here are some highlights:

• New listings in Greater Boston were up 11.5% for single family homes and 18.6% for condominiums.
• Median Sales Price for condominiums was up over 10% to $423,250.
• Months supply of inventory dropped 30.8% for condo units.
• Sellers are receiving, on average, over 98% of list price when they sell!

 Pair these numbers with…

The fact that the stock market is up over 30% from where it was last year. Additionally, interest rates remain pretty darn low (just ask anyone who purchased a home 25 years ago!). Today, rates are about 4.375%. (Check the most up to date rates here.)

Also, Boston Herald just reported that the US added 113,000 jobs this past month. Great start of the year!

Overall, we are confident about how the market is going to be in 2014. Thinking about selling? It is time. Don’t be afraid of the winter market! We can give you 3 reasons that NOW is the best time to list your home.