All we hear about in conversations and the media is that home and condo prices are down across the board. As brokers, we are constantly asked, “You guys must be hurting seeing the real estate market is down so much?”. The short answer, home/condos sales, a huge segment of Boston proper real estate, is STRONG compared to many other regions of the country. As a matter of fact, The Case Shiller Index, a leading indicator of home prices around the Country came out today and verified it. Where cities like Las Vegas(-12%), Seattle(-3.6%), Miami(-1.6%), Chicago(-2.3%), New York(-2.4%), were all down year over year, Boston was actually up 3.8%.
Although we do not have a crystal ball, Boston has proven to be one of the best cities, in the entire Country, to own real estate. Boston has one of the most diverse resident mixes in the entire world. Just take a sampling from South Boston to Brookline and you will see the wonderful diversification Boston features. Rest assured, your hard earned money will be well spent when purchasing a town-home or condo in and around Boston.
Tags: boston
LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |
It is certainly interesting to see the Case Shiller Index begin to record the bottom of many markets in the US. It look as if Boston may be there along with a handful of others.