In a record-breaking streak, the Greater Boston area has exceeded expectations in the real estate market. For a third month in a row, the Boston area has seen a double-digit increase from the same time last year. Sales for homes and lofts increased 17% from September 2010. This is a continuation of the summer trend of an upward spike of sales.
Loft sales increased 10% when compared to September of last year. Since the start of 2011, prices have moved slightly up, with single-family homes increasing 2.2% and loft prices inching towards 4.6% price increase. These are healthy indicators that demand is starting to rise for homes and lofts.
Overall, sales are up 15% from last year’s figures. Steady home prices, record low mortgage rates, and employment gains are said to be the factors behind the upward trend. Analysts say the trend may stick around for the rest of the year.