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