Over Asking: The story of the 2013 Boston Real Estate Market

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    14-Sep-2014

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This is the story of the 2013 Boston real estate market. 2013 was a frustrating year for many people looking to purchase real estate in the down town Boston marketplace. The market was flooded with buyers which pushed prices up well over asking.

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  • 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 its 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