Are you looking for information about Boston real estate? Whether you're just curious about what the market's doing or if you're in the market to purchase or rent a home, Boston City Properties has you covered. In addition to being real estate experts, we offer a vast, constantly updated database of real estate listings for all Boston neighborhoods and suburbs. Our up-to-the-minute listings include single-family homes, condos, lofts, Boston apartments, commercial real estate and much more. They're pulled from the MLS, and our handy search feature lets you zero in on whatever you need quickly.
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About the Boston Real Estate Market
Boston emerged from the real estate bubble relatively unscathed, especially when compared with many other major metropolitan areas. Lately, several trends have been dominating the market here. First, a low inventory of condos and homes in the city proper is causing prices to soar. According to the latest data, the average listing price for a home in Boston is just over $900,000. From April through July 2015, the median sales price was $405,000, and the average price per square foot was $431.
Of course, home prices vary enormously from neighborhood to neighborhood. The median sales price for a home in the Back Bay, for example, is around $2.2 million. Meanwhile, the median sales price in Dorchester is just under $400,000. Neighborhoods whose markets are especially on fire these days include Mission Hill, Mattapan, Beacon Hill, Longwood and the South End.
While there's a low inventory of condos and single-family homes, there are plenty of luxury apartments to be had. That's not deterring buyers, who are increasingly engaging in bidding wars to snap up properties--especially condos--quickly after they hit the market. Lately, over-asks have become fairly common too.
All of this really drives home the importance of having access to timely and accurate Boston real estate information, and Boston City Properties has it in spades.
The market in Boston is competitive in general, and that's especially true when it comes to condos. Condo prices have been skyrocketing, and it doesn't look like the trend will abate any time soon. During the second quarter of 2014, the average price per square foot for a condo downtown was $728. For a luxury condo, it was $1,188. Luckily, those sky-high prices aren't the norm throughout the whole metro area. If you need to find an affordable condo in or near Boston, you still can. You just need to tap into the right resources, and Boston City Properties' listings are sure to help.
Lofts have been a thing in Boston for some time. Loft-style luxury condos and apartments, in particular, are in high demand. The open, airy aesthetics of a loft home are appealing, to be sure, and you can take your pick from a vast array of layouts, designs, amenities and locations. Whether you want a loft-style condo in the Waterfront district or a loft apartment in Mission Hill, search Boston City Properties' listings to quickly zero in on viable options.
Rent prices for apartments in Boston are all over the map. No one seems to be able to agree on the average price to rent a Boston apartment. However, the best estimates fall into the $2,500 to $3,000 range for a one-bedroom unit. Naturally, prices vary wildly by neighborhood. For example, the average price to rent a one-bedroom apartment in Allston is around $1,500; in the Financial District/Downtown, a similar apartment will set you back by an average of $2,400 per month. Regardless of your budgetary needs, Boston City Properties can help you locate an apartment that works perfectly for you.
Through the Boston City Properties website, you can sign up for free access to search the Massachusetts MLS, or Multiple Listing Service. Our database pulls data from the Boston MLS, allowing you to pinpoint homes, condos, lofts and apartments that suit your lifestyle, budget and needs with ease. The MLS is the most reliable source for accurate, up-to-the-second information about real estate for sale, and you can start browsing and searching these listings in no time by signing up with us.
Boston Real Estate Agents
Whether you are buying or selling real estate in Boston, it pays to have the right help by your side. In addition to offering a free database of continually updated real estate listings, Boston City Properties works with talented real estate agents throughout the city. Indeed, we have real estate agents in every Boston neighborhood and suburb. Whenever you're ready to look at properties in person, just get in touch with us. We will connect you with a real estate agent in the area who will take it from there. They can also assist you in making an offer, dealing with negotiations and more.
Connect with Boston City Properties for Real Estate Help
At Boston City Properties, we know how overwhelming it can be to look for properties in and around Boston. Selling can be an overwhelming experience too. Whether you're buying or selling a home, looking for investment properties, searching for an apartment or condo, interested in commercial real estate or have some other real estate endeavor in the works, arming yourself with accurate, up-to-date information will make the process much smoother and easier. Here's some good news: The information you need is just a few clicks away.
Sign Up to View Boston Real Estate Listings Now
Complete a simple form to start browsing and searching Boston City Properties' massive database of up-to-the-second real estate listings. We are confident that you will zero in on a number of viable options in no time. If you require further assistance at any point along the way, just give us a call. Our goal is to make it as easy as possible for anyone to buy, sell, rent or invest in real estate in Boston. Our database is up and available right this second, so complete the form and start searching today.
What Really Defines Boston Real Estate?
Residential and commercial properties in Massachusetts vary widely. Homes, offices and condos draw upon infinite stylistic, cultural and thematic elements, and nowhere is this diversity easier to observe than in America's Walking City.
The Boston real estate market is characterized by a unique blend of the traditional and the contemporary. Its limited size and superior urban planning compared to other East Coast population centers ensure that it still retains much of its original charm, and there's no better time to get involved.
An Iconic History
As one of America's most recognizable urban zones, this region is a trendsetter for residential and commercial architecture. Although the original farmsteads that once dotted the area have long since been erased by their successors, the city still boasts many examples of distinct buildings. Those looking to buy property have a lot to choose from, and people who want to sell can count on consistently high demand.
Consider the humble 19th-century row houses that continue to represent popular neighborhoods like the South End. Although these homes are noteworthy for their similarity in form, 1994 research from the Journal of Urban Economics demonstrated that a wide variety of architectural styles and details accounted for significant swings in market value. In other words, contemporary property buyers stand to benefit from years of personalization and design innovation.
From Old to New
Many of the city's residential and commercial properties also drew lots of inspiration from famous local landmarks. Properties like the Sears House, whose bowed Federal appearance and granite facades were once unlike anything else in Beacon Hill, eventually rubbed off on their surroundings.
Today, many of the condos that dominate Beacon Hill are still characterized by imposing entry columns and mansion-like interiors. A number of these properties also come complete with luxuries such as hand-carved ceilings, heated floors and garden spaces. With average listing prices of more than $3 million as of early November 2016, these residences feature some of the city's highest price tags. Given their central location near modern government facilities and quaint cobblestone streets alike, it's easy to see why.
A Market-Friendly Regulatory Climate
Another interesting aspect of the local property market is that investing here gives you ample chances to go green. The city makes up for its wealth of older historic buildings with LEED ordinances and green construction policies that represent pioneering trends in sustainability. Buying a new apartment or refurbished condo could just help you save on utility and maintenance costs in the long run. The prevalence of smart design and security features that come standard with many new properties is also a huge selling point.
This city is heavily invested in urban renewal and redesign. Projects like Fenway Center and others routinely benefit from special tax assessments and financial incentives that transform formerly slumping regions into treasure troves of retail, commerce and residential properties. Sellers would do well to account for local improvements as they set their asking prices. Buyers should regard moving closer to such upgrades as an opportunity for high-equity investment.
How Do Prices Change Around the City?
As you move out further from the center of town and the Charles River, listing prices naturally decrease in conjunction with valuation. You'll also note, however, that unlike other metropolises, this city's property market generally exhibits a somewhat equitable distribution of sale prices.
Large sectors of the region have similar median sale prices per square foot even though listing prices in outliers like the metro area's Weston are much higher. This is because higher asking prices typically correlate with larger properties . For those tired of paying tons for minuscule properties, investing here has clear advantages over places like New York City or Washington D.C., where personal space comes at an exorbitant price.
The Evolution of Your Property Options
Like any major market, the Boston real estate scene is subject to sudden shifts and changes. Although events have largely trended towards the positive since the end of the 2000s recession, the kinds of properties that account for the biggest percentage of demand and transaction closings continue to vary with time. Those who stay aware of which sectors are hot at any given moment stand to profit.
The populace of Massachusetts is growing and evolving. The local market is simply repositioning itself to keep up. With professionals from many generations seeking places to call their own in big cities, modernized properties that accommodate workers are increasingly popular. In 2014, realty professionals and economists said that even though market sectors like single-family homes were still somewhat depressed, demand for alternatives like condos had risen to compensate.
Although just over half of the local populace commutes to work by car, more than a third rely on public transportation. Homes near the MBTA, or T, subway, rail, bus and ferry routes naturally come at a premium. Even within lower-priced suburban neighborhoods, like Chelsea and Mattapan, you'll encounter properties that seem to buck local asking price trends due to their proximity to T stations and other transportation links.
Obviously, you'll pay more for convenience and positioning. In terms of forward-thinking investment strategies, however, properties that are more accessible may demonstrate more sustainable value against future market fluctuations.
Getting Into the Market
Whether you're a buyer or a seller, you have to take the fast pace of the local market into account. As with any population hub, the city has strict rules concerning purchase and sale transactions, mortgages, refinancing, sale-by-owner transactions, boundary disputes and zoning. If you want to capitalize on favorable conditions before they disappear or move to other neighborhoods, it's critical that you do your research beforehand in order to ensure that you're getting into a sound deal.
Local programs like residential tax exemptions for homeowners, a wealth of property styles and robust valuations mean that Boston real estate isn't likely to lose its massive popularity any time soon. You need to strike while the iron is hot, and this means staying informed.