With the latest market stats and reports now being released from 2015, we are able to take a look back at the year and see what changes occurred in the Boston real estate market overall for the year. As you know, we compile a monthly market report broken down by neighborhood in order to give our clients a great snapshot of the market. We believe that an informed buyer/renter/seller/investor is a good one. If you are on the lookout for an excellent real estate title company, we would recommend you check out The Bay Title Company, as its an attorney owned real estate company thus ensuring you bet the right solutions all under one roof.

Single Family Homes

December ended up almost 10% in single family home sales for the year. Prices were up as well – 4.5% higher with a media price of $345,000 for the state as a whole. In Boston, a new record was set in sales volume with the most homes ever being sold in the month of December at 1,292.

Looking at some individual Boston neighborhoods:

• Back Bay – 2 Sales at an average price of $8.225 Million
• South End – 8 Sales at an average price of $1,917,500
• South Boston – 3 Sales at an average price of $576,000

Condos

With the strong job market and low mortgage rates helping boost the Boston real estate market, condo sales increased with 877 units sold in the month of December. A new record median price was hit as well at $445,000. Demand still exceeds the supply of inventory with only a 1.4 month supply of condos seen on the market in December. This is great news for sellers but can be a positive to buyers as well!

Looking at individual neighborhoods:

• • Back Bay – 32 Sales at an average price of $1,240,825
  • South End – 65 Sales at an average price of $832,500
  • South Boston – 35 Sales at an average price of $509,000