Condo Comparison, June 2017

Overall estimates for residential appreciation in the Boston market over the last year is in the range of 11% and Zillow is conservatively predicting around 5% for the next year.  Is this growth sustainable?  Who knows?  What we do know is that the market is cyclical and that what goes up spirals around to a seemingly higher low than the last. Take a look at the graphs below.

Cambridge / Somerville Condo Market Comparison June 2017 vs. 2016

Cambridge:
June 2017: Condos sold: 81 = less14%  | Average. SF: $779 = 11% increase
Median Sale Price: $769,000 = up 7%  | Sale price to original price: 108%

June 2016: Condos sold: 94 | Avg. SF: $701
Median Sale Price: $716,950 | Sale price to original: 107.4%

Somerville:
June 2017: Condos sold: 53 = less18% | Avg. SF: $592 = 14% increase
Median Sale Price: $611,000 = up 2% | Sale price to original: 107.4%

June 2016: Condos sold: 65 | Avg. SF: $521
Median Sale Price: $600,000 | Sale price to original: 104.6%

Cambridge vs Somerville Condo Comparison

 

JP/ Roslindale Condo Market Comparison June 2017 vs. 2016

Jamaica Plain: 
June 2017: Condos sold: 59 = less 19%| Avg. SF: $503
Median Sale Price: $504,000 = up 3% | Sale price to original: 103.7%

June 2016: Condos sold: 73 | Avg. SF: $463 = 9% increase
Median Sale Price: $490,000 | Sale price to 0riginal: 106.1%

Roslindale:
June 2017: Condos sold: 21 = 5% increase | Avg. SF: $360 = 5% decrease
Median Sale Price: $455,000 = up 23% | Sale price to original: 105.7%

June 2016: Condos sold: 20 | Avg. SF: $378
Median Sale Price: $368,000 | Sale price to original: 103.3%

 

Celebrating Success

A few highlights from our Celebrating Success event at Tony C’s

Condo Comparison, Feb 2017

Hard to believe that we’re nearing the end the 1st quarter with lower inventories than ever before.  Being an optimist and given the current numbers there is only one way from here and that’s up.  Looking forward to a crazy spring market with a few surprises as the market slowly shifts.

JP vs Roslindale