The most recent market stats were just released showcasing changes in the market for December of 2014. In looking at them, we can see where the market took us in 2014 and what we can expect as we move into 2015. Here are some of the interesting stats to consider as you think about buying or selling in the Boston area.
There was an over 5% increase in the amount of closed sales compared to 2013 in actual closed properties of over 4,000. Additionally, there was a similar increase in the median sales price:
The condo market saw a small dip in the number of sales, with a 4.3% decrease from 2013. This has been seen consistently, with a decrease in quite a few of the last months.
Looking at a few other factors, we see some other interesting trends that we think will continue into 2015.
As you can see, inventory was substantially lower than the year before, with a 24.5% decrease. But, on the other hand, the amount of new listings was actually higher – potentially indicating a strong listing season as we enter into 2015. Additionally, there has been little change to Days on Market overall from year-to-year although we expect this to increase slightly if we see a boom in listings coming on the market.
Want to read more about neighborhood specific stats? Download our FREE market stats guide with helpful information about more than 20 of Boston’s top neighborhoods.
