Greater Boston Area Housing Market 2013 Quarterly Comparisons

The Boston Business Journal is reporting that the Greater Boston area housing market continues to be among the strongest in the state of Massachusetts.

In April 2013, the BBJ reported that traditional hot-spots such as Brookline and Newton were booming ahead of the Bay State’s spring market, with brokers sharing anecdotes of listings being snapped up above asking prices and lines for open houses stretching around city blocks.

Boston Area Housing Market Quarterly Comparisons

The Greater Boston area housing market continues to post strong numbersThe pace of deal-making in the Greater Boston area housing market only increased as 2013 progressed. By the second quarter, it was clear that near record-low interest rates and pent up demand was spurring first-time homebuyers and investors to pour into neighborhoods stocked with condos and multifamily housing. Zip codes in Dorchester, Brighton and Cambridge were being thrust back to pre-recession pricing levels.

By autumn, the Boston area housing market activity was bubbling over into neighborhoods that were among the last to rise and the hardest to fall during the previous decade’s housing debacle. While speculators and over-extended homebuyers were to blame back then, local brokers told the BBJ that much of the new activity was being driven by cash-flush investors seeking cheap properties. Neighborhoods in East Boston, Roxbury and Mattapan — some of the same neighborhoods whipsawed by the housing downturn — were back in the conversation.

Very little changed in the 4th quarter in the Greater Boston housing market, as East Boston and other markets saturated with multifamily housing once again topped the BBJ’s list of the Hottest Housing Markets in Massachusetts.

Now being into the 2nd quarter of 2014, the Greater Boston housing market continues to post strong sales, only stymied by the same old story — not enough houses on the market to meet the demand.

Get complete Boston area housing market news and Massachusetts home sales information by clicking the Boston Real Estate News link to your right under Boston Real Estate Categories.

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