Buying and Selling a home in the Greater Boston Area

Avenue 3 Week in Review: Pendings Sales and Rent or Buy in Boston MA

Posted by Avenue 3 Real Estate on Wed, Feb 1, 2012

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JANUARY 31, 2012
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Week In Review

 

 

 

Rent or Buy in Boston, MA - You be the Judge 

  

 Boston, MA, with 23 diverse neighborhoods allow the renter or buyer many options and at all price points. 

 

A recent article from boston.com"In a tight local market, no relief for renters, apartment hunters", stated that increased demand & declining rental inventory for 4th quarter 2011, increased average monthly Metro Boston rents to $1,686, up from $1,649 in 2010 and $1,600 in 2009.

 

  Rents are expected to continue to rise through 2012.  Now may be a good time to think about a home purchase.  With over 1500+ Boston properties (Avenue 3 property search) currently on the market and 30 year fixed mortgages at 4% or lower it may make sense to buy now.

 

Recent Boston condo closing:

 

  South End: 1 bedroom, 610 square feet, updated condo with central air and a private enclosed patio on W. Newton Street, closed in December 2011 for $327,500.  With 5% down ($16,375), a 30 yr fixed mortgage at 4%, including condo fee and taxes bring the  monthly expenditure to $1,921.36.....search for recent closings here...Avenue 3 Sold Properties Search

 

 here are the pending sales for Boston and the other communities we track ...

 

  pending sales

  

town last week previous week
Arlington 7 7
3
 Cambridge 13 13
Concord 2 2
 Lexington 5 5
Lincoln 0
Medford 6 6
Somerville 7
 Waltham 10  5
Watertown 4 3
 Winchester 2 4
BOSTON 105  73

 

Source:  MLSPIN

 

If you find our weekly pending sales report something you can't live without:

 

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Questions? Thoughts? Need Assistance? Contact Us. We look forward to hearing from you!

                                     

 

 

 

Topics: MA Real Estate, pending sales, Boston MA Real Estate

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