Boston Real Estate Market Forecast 2017 – Winston Rowe & Associates
Boston clocked in as the third-hottest real estate market for next year. The property search site examined housing markets based on levels of price and sales gains—Boston was beat out by the likes of Los Angeles, Calif., at number two, and Phoenix, Ariz., at number one.
The low inventory in 2016 prompted many owners to sell at higher rates than when they purchased, resulting in more competition for buyers who in turn had fewer properties to choose from.
Additionally, the number of properties on the market in the region have been falling drastically; for the August-October 2006 quarter compared with the August-October 2016 quarter, the number units available in the city of Boston was 9,619 compared with 1,950.
Expect listing prices to continue to rise but interest rates may be a hindrance to continued appreciation. As new developments open their doors to more residents, the rate of appreciation seen in the market over the past several years, may finally see some easing.
This article was prepared by Winston Rowe & Associates; they are a no upfront fee due diligence and consulting firm.
You can contact them at 248-246-2243 or visit them online at http://www.winstonrowe.com
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