With the most recent market stats report just released, the market saw the highest number of closed sales for single family properties since 2004! According to MAR (The Massachusetts Association of Realtors), Single-family sales hit 4,002 with a median price of $350,000 for April 2016. In condo sales, 1,575 sales closed with a median price of $329,000.
The weather has been above average throughout the region, creating more activity than typical in the earlier months of the year. Sellers have prepared their home for sale and buyers have been ready to go in this competitive market. Prices have also seen an increase of almost 8% from 2015 in both single family and condo markets.
Here is a quick look at how a few of Boston’s downtown neighborhoods compares to these overall stats:
Back Bay actually saw a small decrease in number of closed condo sales as well as median sales price from the year before. There were no single family transactions as a comparison for the year. Take a look:
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Closed transactions for South End/Bay Village condos saw a 31.3% jump with a slight decrease in median price to $711,500. The stats:
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Closed sales in Beacon Hill saw an 11.1% increase from the year before with a large jump in median sales price of Beacon Hill condos to $912,000. Here are the stats:
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