Real estate prices are up in Boston and the Boston metro area, but the Boston area remains one of the biggest buyers of land in the country, according to a new report from RealtyTrac.com.
Real estate experts and real estate agents surveyed by Realty Trac said the real market has seen “unprecedented” growth in Boston in the past two years, with prices jumping over 10 percent annually.
According to Realtytrac, the Boston market is now home to over 8,000 properties worth more than $1 million, up from 1,800 properties in 2016.
The most expensive property is listed at $1.9 million, and the most affordable is $1,250,000.
In a report, Realty trac also revealed that in 2018, the top 10 most expensive homes in the Boston region sold for $1 billion.
“We’re seeing more people moving into the Boston and Cambridge area, and we’re seeing some big increases in land values, and more people are getting into this market,” said Rob Everson, chief economist for RealtyTRAC.
“This is a boom time for the real-estate market in the region.”
The report found that Boston and Boston’s metro area are the largest buyers of real estate in the nation.
“We’ve seen the average home price jump over 8.5 percent over the past year and are now up nearly 10 percent,” said Everson.
“In the Boston Metro area, we’re currently home to approximately 6,200 properties with an average asking price of over $1M,” said Eric Pfeifer, Realtor, REITBoston.
In the past, Boston was the biggest seller of real-tourism in the world, according an analysis from Realtornet.com, but it has become one of realtor’s biggest buyers, and this year has been especially significant. “
In the suburbs, we have a couple of very high-priced properties that we’ve been able to negotiate and have been able sell,” said Pfeiver.
In the past, Boston was the biggest seller of real-tourism in the world, according an analysis from Realtornet.com, but it has become one of realtor’s biggest buyers, and this year has been especially significant.
“Boston has seen a steady increase in the number of people moving to the area,” said Realtracer.com President and CEO Michael Larkin.
“Our data shows the median price of a home in the metro area has risen by nearly 10% annually, with the median selling price of $1 Million or more over the same time period.
In fact, in 2018 we sold over 1,100 homes in Boston, up by more than 10% from the year prior.”
The average price of homes in metro Boston is $3,600, but that average is significantly higher than the median sale price in the city,” said Larkin, who added that the average price in Boston is “around $1 M in many neighborhoods.””
In the near future, we are excited to announce that we are bringing back the Boston luxury market in 2018.””
As we continue building on our portfolio, we expect the demand for luxury real estate to continue to increase as new developments come to market.
In the near future, we are excited to announce that we are bringing back the Boston luxury market in 2018.”
Boston’s luxury market continues to expand as the area continues to attract a large number of visitors, as well as the influx of new residents who are seeking a more “sexy” experience in the area.
“Boston is a great city to live in, and our residential market is booming,” said Schanzel.
“While the average cost of a new home in Boston increased by just over 10% last year, this increase was largely driven by an influx of young professionals moving to our region and the influx from overseas.
The influx of foreign money into the city also helps to drive the average sale price.”
According to the report, the average selling price in 2017 was $1 and the average asking value was $2,955, meaning that the median home price is over $3 million.
The average asking prices for all properties in the top 25 neighborhoods is over twice as high as the median sales price, and $1 in many places.
The real estate experts surveyed by REALTTRAC said that Boston is the second most expensive city in the U.S. for luxury housing.
The market is growing in New York City, Philadelphia, Washington, D.C., and Chicago, but has not yet surpassed Seattle, which is considered the city’s “principal” market.
“Prices in the market in Boston have increased by over 10.6 percent over 2017, according with REALTOR.com’s data, while sales have been