Boston Real Estate

Like most of the US, the Boston real estate market has seen a decline in home values since the end of 2008. Unlike much of the country, Boston appears to have hit its bottom very early, in March of 2009, and now seems to be stagnating at current prices for the last year. Over the next six months, one might expect to see prices decline a little bit more, perhaps somewhat closer to the 2009 lows but, as the economy continues to improve, the values available are going to begin to be picked up by home buyers confident that they can meet the obligations of a mortgage.

Of course, this is an overview of the entire Boston-area market. If you have a particular neighborhood or part of the city or outlying suburbs in mind, the picture may be very different. For example, if you were shopping for a home in a luxury market like Beacon Hill, you would be surprised to see that home prices have not really decreased as much as the rest of the market. Likewise, several other neighborhoods have seen declining prices even before the market crisis and may not be coming back for a very long time!

If you are settled on the Boston area, you can be confident that the floor is not about to drop out, but to formulate a specific strategy to find the best value, feel free to contact me. I know all the specifics for whatever neighborhood you want. I would be glad to help!