Looking to buy a home this spring? Good luck with that
Apparently, the law of supply and demand still works in Boston’s housing market.
Apparently, the law of supply and demand still works in Boston’s housing market.
Sale prices on homes in Massachusetts hit new highs in January, amid a sharp decline in the number of houses for sale. Meanwhile rents in the city of Boston — especially on older apartments — are starting to fall as a wave of new buildings open across the city.
The trends reflect a market that has shifted in favor of renters — for now anyway — but remains expensive across the board.
The median price for a single-family home in the Bay State climbed 7 percent in January, compared with the same month last year, to $342,500, according the data from the Warren Group, a Boston-based real estate tracking firm. Condo prices climbed at a similar clip.
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