Condominium sale prices rose in May to 50% above the same month last year
With home prices on the rise as the housing market recovers, Mass single family homes saw a 35% increase in average sale price this May, as compared to the same month in 2011. Great interest rates and prices still on the rebound mean that opportunity is in the air for MA home buyers. The news is even better for sellers, especially those looking to market a Boston waterfront condo. Condo sale prices rose 1% above their level at the same time last year, slightly above the statewide average price for single family homes – which is quite rare.
According to the Greater Boston Real Estate Board, condo prices here in the city saw an even greater jump, showing a 4.4% increase over last year.
Coupled with the lowest inventory on market in years (a trend that has continued in eight of the past nine months), this is a great sign of a recovering market, and a welcome change for sellers – and for us! Year-to-date, CL Waterfront has sold as much property so far in 2012 as we did in all of 2011. With over $55 million already closed or under contract, CL Waterfront continues to lead the market in 2012. To find out more or schedule a showing of one of our exceptional Boston waterfront condos, contact CL Waterfront Properties today.