April 12, 2010 Mara Bushari

According to a new report from The Warren Group, February single-family home sales in Massachusetts jumped 8.4 percent compared to a year earlier, marking the third consecutive month of year-over-year increases in prices. The median price for a single-family home jumped from $249,000 in February 2009 to $269,950 in 2010. In addition, the year-to-date median home price is up 9.8 percent. February condominium sales increased as well, marking the sixth consecutive month of year-over-year gains.There were 939 condo sales in February, up 8.9 percent from 862 the prior year. Year-to-date condo sales surged 15.7 percent to 1,931 from 1,669 last year.

It is easy to conclude that the Boston real estate market is improving. That said, it is important to note the reasons behind the upswing. The homebuyer tax credits are certainly giving some buyers and extra push to get their offers in by the end of April, and interest rates have been kept artificially low thanks to Uncle Sam. It will be interesting to see if prices and sales continue to increase in the summer months. Buyer confidence is improving, which is a solid improvement. Boston homebuyers who had been sitting on the fence for a few years have finally decided to put pen to paper. They are, however, purchasing homes with a longer time-frame in mind. Homebuyers who only a few years ago would have considered purchasing a studio in the Back Bay are now looking for a home they can live in for five or even seven years….just in case they need to stay longer than intended because of market fluctuations.

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Mara Bushari

Mara is a creative thinker and strategic marketer. She graduated Summa Cum Laude from Boston University’s College of Communication and worked in international finance before joining The Bushari Team. Mara strives to exceed expectations. As Client Relations Specialist, she is a key facilitator in all team transactions, making the buying or selling process as stress-free as possible for the client. Mara learned many of her extraordinary organizational and problem-solving skills during her service in the Israeli Defense Forces, where she earned the “President’s Award” for exceptional service. In the military, Mara solidified her abilities to achieve top results in high pressure and time sensitive situations. In her spare time, Mara enjoys skiing, photography and writing.

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