Boston’s median price per square foot up seventy three percent since 2019 MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgnet

Boston’s median price per square foot has surged by seventy two point nine percent since 2019, marking one of the highest increases in the nation, according to Realtor.com’s May Housing Report. This significant rise is second only to New York, at eighty four point seven percent, and tops Nashville, which has seen a sixty eight point six percent increase.

 The report found “staggering” increases when looking at the median price per square foot across the nation, as nearly half of the fifty metros in the report had increases of at least fifty percent since 2019. Danielle Hale, Realtor.com chief economist, said the numbers suggest typical home values have also grown up more than twenty percent since before the start of the pandemic.

 “In addition to higher median list prices and fewer homes for sale versus 2019, the increase in median price-per-square foot suggests that the typical home on the market today is worth fifty two point seven percent more than before the pandemic, more than double the roughly twenty three percent increase in consumer price inflation in this period,”

 Hale said in a press release. “The specifics will vary from market to market, but the data suggest ongoing opportunity for many sellers. In Boston, the median list price of a home in May was $900,000, a three point eight percent increase from last year, with a ten point two percent year-over-year increase in price per square foot. That marks a forty nine point four percent increase in the median list price from May 2019.

The post Boston’s median price per square foot up 73% since 2019 appeared first on Boston Agent Magazine.

FIRST TIME HOMEBUYERS