The market in Allston is much more healthy then compared to last year. At the end of May we currently had 26 condos on the market with the average list price of $280,708 compared to 53 condos with an average market price of $280,673 in May of 2010.
There were 6 condos sold in May of 2011 for the Allston Real Estate Market with an average Days on Market of 159 and a sale price of $359,280 which was a 96.33% List to sale Price Ration.
Last year we saw 9 homes close in the month of May with days on market of 40 days and a sales price of $254,536 and a List to Sale Price Ratio of 95.78%.
So why is the current real estate market in Allston stronger market than last year? There are a couple reasons. The first thing that we can not ignore is that the first time home buyer credit was winding down and coming to a close with the last month a buyer could close being June of 2010. While there is a 3 unit difference in sold units, the amount of inventory has shrunk dramatically making it a more competitive market and continuing to help stabilize prices for the Allston, MA Real Estate Market. Last year in May there was 8.83 months worth of inventory on the market compared to 5.2 months this year. We consider 6 months the perfect balanced market where neither buyer nor seller has a pricing advantage.
If you are thinking about buying or selling a home in Allston, then give Jeffrey Chubb of RE/MAX Select a call at 617-480-2600 or visit him on the web at www.MoveWithChubb.com. His expertise is second to none as he is one of the top agents in the state and sells on average a home a week. You won’t be disappointed!
Wondering what your home is worth, then get a Certified Market Analysis dropped into your INBOX today by visiting www.MAPropertyValue.com.