For nearly 20 years, John Waitkunas has served as a project executive at STV|DPM, a multi-focused construction management firm that has been involved in infrastructure, commercial, and residential developments in and around the Boston area. John Waitkunas maintains a professional interest in trends and analysis of the Boston real estate market.
According to a recent survey evaluating the opinions of real estate agents, brokers, and local housing experts, 2020 is a great time to invest in Boston real estate. The market can be described by the following three trends:
1. Steady market - While housing in Boston has risen significantly over the years and is more in-line with Manhattan prices, the experts did not attribute this increase to a bubble. Rather, rising costs can be attributed to other factors, such as a strong job market and desirable neighborhoods.
2. Low Inventory - Another element to Boston’s strong real estate market is the lack of houses on the market. Since demand outstrips supply, most houses in the area sell within 37 days, nearly half of the national average.
3. Up and Coming Areas - An influx of middle-class buyers and renters into areas outside Greater Boston have driven demand for restaurants, cultural centers, and other amenities. Neighborhoods such as Roxbury and Quincy that were previously in-demand due to their proximity to Boston are becoming interesting destinations in their own right.
According to a recent survey evaluating the opinions of real estate agents, brokers, and local housing experts, 2020 is a great time to invest in Boston real estate. The market can be described by the following three trends:
1. Steady market - While housing in Boston has risen significantly over the years and is more in-line with Manhattan prices, the experts did not attribute this increase to a bubble. Rather, rising costs can be attributed to other factors, such as a strong job market and desirable neighborhoods.
2. Low Inventory - Another element to Boston’s strong real estate market is the lack of houses on the market. Since demand outstrips supply, most houses in the area sell within 37 days, nearly half of the national average.
3. Up and Coming Areas - An influx of middle-class buyers and renters into areas outside Greater Boston have driven demand for restaurants, cultural centers, and other amenities. Neighborhoods such as Roxbury and Quincy that were previously in-demand due to their proximity to Boston are becoming interesting destinations in their own right.
