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1st Quarter Boston Real Estate Report

Boston Real Estate 2009 1st Quarter Report

The 2009 city wide report of Boston Real Estate, created by Link Boston, is showing some key trends that indicate it’s still a strong buyers market:

 1.     Sales in the first quarter of 2009 have fallen 33.4% since 2008, with 339 transactions compared to 509 in the 1st quarter of 2008 and 660 in 2007.

2.     The average selling price dropped by 14.63% and the average price per square foot (PSF) fell by 9.74%, creating a great market for buyers to cash-in on some basement bargains.

Here’s how to find the best deals:

 1.     LOCATION:

The biggest discounts in the city are in areas like, Midtown with sale prices falling by 60.94%, the Seaport District by 42.03% and the North End by 26.59%.

 2.     BEDROOMS:

Studios took a dive, to 23.21% below 2008’s average selling price and two bedrooms dropping by 22.08%.

3.     SIZE:

The average selling price for unit within 1501-1800 sq. ft fell by 26.61% and units much smaller, within the 701-1000 sq. ft. range dipping 16.02%.

 **Key indicators show that this is a buyers market and by keeping up to date with neighborhood trends you can find some excellent deals. 

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