Throughout essentially every Boston neighborhood we saw substantial increases in the prices of sales as well as the price per square foot. Not surprisingly, Midtown had the largest jump in price per square foot of 36% and mainly attributed to the new Millennium Tower. While Midtown is certainly a newly developing residential neighborhood there were large spikes in average price per foot in many of Boston’s established neighborhoods. Beacon Hill had a jump of 11%, Waterfront increased 3%, North End was boosted by 8% and Fenway saw an increase of 12%. Many other neighborhoods had increases between 4% and 8%. Another interesting statistic is the change in average days on market from neighborhood to neighborhood. Properties in the Waterfront in 2015 had an average marketing time of 63 days which fell to 54 days in 2016. This was one of the most dramatic changes in this category throughout the Boston neighborhoods. Home values in the North End saw a slight uptick since last year while in the Waterfront they remained essentially the same.
According to a recent Wall Street Journal article home prices have rose an astounding 3.6% from this time one year ago making this the largest gain the housing market has seen within the past six years. Housing prices have seen substantial increases in nearly all of the metropolitan markets throughout the country including Boston. There are several reasons why we are now seeing this increase and one of the major ones is the increase in building that we will see over the coming year. Experts are saying that the country is prepared to add one million new homes to the market this year, which is nearly twice as many as years past. Over the past couple of years rental rates have been on the rise which has lead way too many investors entering the market to take advantage of strong returns on their investments. However, it appears that recently many have decided to stop paying extravagant rents and are deciding to buy their first homes. All of these factors as well as a large decline of distressed sales in the market place will make the 2013 housing market very strong. To learn more about the changing terrain of the local real estate market contact CL Waterfront Properties, LLC.
Boston home values continue to rise for the fourth consecutive month. From June to July, Case-Shiller, shows that home prices have increased by 1.8 percent which is more than the national average. Low inventory, strong consumer confidence and low interest rates have added to the strong upswing that we have seen in the market over the past four months. Sales prices have shown an increase of an astounding 24% during the first eight months of this year in comparison to the first eight months of 2011. Specifically condominium sales in the state have shown the largest increase in volume with a 40% rise from August last year to August of 2012. Experts studying the economic climate have stated that the housing market has stopped the downturn and are expecting a continued rise. The biggest challenge currently facing the real estate landscape is a continued lack of inventory. Now is an opportune time to list your home for sale. With demand and home values on the rise now is a great time to get the highest possible price for your home. Contact CL Waterfront Properties, LLC to learn how you can sell your home in this rejuvenated market.
With a bike score of 68, Beantown, MA came in with the fourth-best Walk Score rating, and for good reason. Boston has a huge network of dedicated bike lanes and paths that run all over the former Puritan colony.
Located in a prime, bike-friendly part of the city, this brick and beam condo at the Union Wharf is well suited for pedal-pushers. Adding to the $1.3 million home’s appeal is a private balcony that looks over the harbor, maple flooring, and a spacious master suite.
Rowes Wharf, centrally located at the heart of Boston’s Waterfront, joined the St. Patty’s celebrations this year by hanging the biggest Irish flag in Boston.
The residences at Rowes Wharf, the iconic arched-building also known as “the Gateway to Boston” and completed in 1987 houses 100 residences and offers luxury services 24-hour Concierge, valet parking and access to The Rowes Wharf Health Club, pool, spa, Water Shuttle to The Airport, a marina, room services and all the fine dining restaurants.
At the Waterfront’s “Grand Dame”, CL Waterfront Properties has an gorgeous luxury penthouse available for sale at Rowes Wharf. This 2 bedroom/2 bath home at Penthouse 7 boasts soaring 10′ ceilings, extraordinary workmanship, seamless design with open floor plan, and 2 private balconies with Harbor views. If you want to read more about Penthouse 7 at this wonderful Waterfront location, click here, then contact CL Waterfront Properties today to see this flawless Waterfront home.