Over AskingThe Story of the 2013 Boston Real Estate Market

2013 was a rough year for those shopping for a condo in Boston

Buyers came out of the wood work and packed open houses all over town

Multiple offers were everywhere

Google Trends searches show which neighborhoods were the most attractive

South Boston CondosCharlestown CondosSouth End Condos

Back Bay CondosBeacon Hill Condos

With so many bids it’s no surprise that many homes sold over asking, but the question is just

how many did?

Back Bay

41% of condos sold for Asking Price or above

20% over asking was the maximum

Beacon Hill

44% of condos sold for Asking Price or above

13% over asking was the maximum

South End

61% of condos sold for Asking Price or above

16% over asking was the maximum

Charlestown

59% of condos sold for Asking Price or above

13% over asking was the maximum

South Boston

55% of condos sold for Asking Price or above

13% over asking was the maximum

What to expect in 2014?

In 2014 we expect to see the trend continue through at least the first half of the year. The lack

of major new condo developments in the downtown area combined with the lack of general

inventory will keep the market extremely competitive for most of the year.

To find out how to beat out the competition in the Boston real estate market contact us:

Call: 617-449-3642

or

Visit: http://www.backbayrealtygroup.com