Boston Real Estate Market

Where Buyers and Sellers Can Get the Best Bang for Their Buck MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent This spring, there are more opportunities for homebuyers than in previous years, according to a new Zillow study. With over a million homes for sale countrywide in February, the largest since before the epidemic, they have more options. Affordability is becoming better: Home values aren’t increasing quickly, and mortgage rates are at their lowest point of the year. Additionally, buyers now have more time to decide because the average home takes more than three weeks to enter into a contract. “While affordability remains incredibly […]

Major U.S. Metros Experience Uptick in Buyer Competition MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent  New Redfin data revealed that in February, the percentage of properties sold for more than their initial list price increased in about eight of the fifty most populated U.S. metro regions, half of which are in the Bay Area or New York. The famed city of San Francisco saw the largest increase among the top fifty metro areas, with an estimated fifty seven point two percent of sold properties selling for more than their original list price, up seven point five percentage points from the previous year.  Pent-up […]

City funds put toward Roxbury affordable multifamily housing MABA MassachusettsRealEstate FirstTimeHoemBuyers MaBuyerAgent Bold Vision Real Estate Solutions LLC (BVRE) will purchase two Roxbury buildings for use as affordable housing. The deal comes after BVRE secured one million dollars in funding from the Boston Acquisition Fund, a public-private revolving loan fund created by Mayor Wu’s administration. “We are proud to partner with the City of Boston on this critical effort to preserve affordable housing,” Carline Chery, founder and principal of BVRE, said in a statement.  “The Housing Acquisition Fund is an essential tool in ensuring that longtime residents can remain in […]

Spring Housing Inventory Jumps, But Buyers Remain Hesitant Amid Economic Turmoil MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent  As more properties came onto the market and overall inventory increased for the 17th consecutive month, the U.S. housing market showed signs of a sustained recovery this spring, according to Realtor.com‘s March Housing Trends Report. Nonetheless, increasing price reductions and declining pending house sales indicate that buyers are being cautious, most likely as a result of the uncertain economic climate and customers’ growing anxieties about their individual financial circumstances.  “The spring housing season is beginning with more sellers and a growing number of homes for […]

What Mayor Wu’s State of the City Address means for real estate MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent Boston Mayor Michelle Wu delivered the State of the City Address on March 19. Here are some of the policies she discussed that could affect the city’s real estate market. Safety “Boston is the greatest city on earth,” said Wu. She highlighted the major decrease in gun violence in the city in recent years and called Boston the safest major city in the nation. She attributed this progress in part to increased community policing efforts. Gentrification Wu took a hard line against gentrification. Over […]

Homebuyers motivated nationwide MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent  Indicators of homebuying demand and activity are on the rise nationwide, according to a new report from Redfin. The brokerage site’s Homebuyer Demand Index hit its highest level in three months during the four weeks ended March 16. Google searches for “home for sale” were up ten percent from the same period in 2024, and touring activity was up five percent. With the weekly average thirty year fixed mortgage rate sliding to six point sixty five percent from six point seventy four percent a year ago and near its lowest level since mid-December, […]

What you need to know about Boston’s Co-Purchasing Pilot Program MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent  A new effort from the mayor’s office encourages households to co-purchase multi-unit properties to attain homeownership in Boston’s expensive market. Through the city’s Co-Purchasing Pilot Program, the Boston Home Center will provide zero-percent interest-deferred loans to help cover the costs of down payments for co-purchased properties with separate dwellings for at least two participating families.  To be eligible for the program, buyers must demonstrate first-time homebuyer status, complete a qualifying first-time homebuyer course, contribute at least 1.5% of their own funds toward the property purchase, occupy […]

Boston buyers cite significant climate-change worries in a new study MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent  In Boston, the value of homes at major risk from extreme wind exceeds one trillion dollars. For flood risk, the value totals one hundred and fifty two point six billion dollars, according to new research from Zillow. These climate risks worry Boston buyers. The share of prospective homebuyers in the Northeast who considered at least one climate risk when purchasing their home reached eighty five percent in 2023, Zillow said.  The issue impacts buyers nationwide. In fact, many markets face more severe climate risks than Boston. […]

Zoning change to allow housing in Boston’s Bulfinch Triangle District MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent The Boston Zoning Commission voted this week to amend the zoning code for the city’s Bulfinch Triangle District to allow residential development. Boston’s City Council previously voted ten to two in favor of the amendment, sponsored by Councilor Sharon Durkan. The goal of the change was to remove outdated zoning barriers and encourage housing development in line with the city’s focus on increasing available housing in the Bulfinch Triangle District located in Boston’s West End.  Durkan presented the proposal to Zoning Commission members Wednesday night. The […]

Four projects to bring One Hundred and Ninety new residences to Boston neighborhoods MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent  The Boston Planning & Development Agency has approved four new projects that combined will bring one hundred and ninety residences to the area. The projects are located in Roxbury, Fenway, Dorchester and East Boston. 639 Warren St.  The Roxbury project, located at 639 Warren St., will convert vacant land into a mixed-used development with sixty three income-restricted units, including fifty four rentals and nine homeownership units, as well as commercial space. The units will be a mix of one, two and three bedroom […]