While it certainly is true that the real estate market, especially in and around Boston, has shown great signs of improvement as of late, however if magnified this success is defined in quite a different way. Although there have been numbers reported that the most recent months of 2012 have seen vast increases in home prices and frequency of sales when compared to the same months of 2011, this is only in certain areas of the State.
The stabilization of prices when looked at the broader scale of Massachusetts is what has been realized from the present day dating back three years. However, with such fluctuations occurring across the nation, this stability has proven to be a strong platform for real estate and economic growth in and around our great city of Boston.
Where the stabilization is happening is mostly on the eastern portion of the State, with the price per square foot of homes staying roughly consistent as well as the ratio between the list price and the sale price of a property. It must be noted that this is measuring the final listing price before the home was sold, therefore it could have been the only value placed on the home or it could have been one with many price revisions. Regardless, properties have been trading on average between 93-96% of the list price.
Finally, this all can summed up to realize that people are not pricing their homes out of the market. Sellers working along with their knowledgeable agent are understanding where the market is and are thus pricing it in the proper range that attract the most prospective buyers as possible. The market is looking rather predictable, but predictable from a position of strength, trust and optimism for the future.
More Information: Boston.com