Boston Area Real Estate Back to Peak Values?

Boston area real estate is almost back to peak valuesAs we bid farewell to 2013 and are mere hours away from ushering in another new year, Boston area real estate is now within striking distance of a pretty substantial landmark.

By the end of the coming new year, if not sooner, Boston area real estate will have recovered all of the value that disappeared when the big bubble popped and the Great Recession hit. So how did this comeback in Boston area real estate happen so quickly?

Boston area real estate values peaked at $604 billion in 2005, before going on a six year dry spell that bottomed out at $502 billion in 2011. Since that time, real estate values have been heading sharply higher, soaring $46 billion alone in 2013 to $568 billion.

Boston Area Real Estate Looks Forward to 2014

A repeat performance in 2014, or anything close to it, will bring Boston area real estate back to the peak values of 2005.

One has to wonder whether it’s all too much, too fast. The startling speed with which prices have roared back seems almost unsustainable.

The $46 billion jump on Boston area real estate values we saw in 2013 eclipsed even the $22 billion run up from 2004 to 2005 as the housing bubble reached its peak.

So as 2014 is about to begin, is it time to worry or celebrate?

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