The Boston housing inventory is at an all-time low
The Boston real estate market is on the mend, as approximately 17 percent fewer homes are for sale in the Boston Metro area than at this time last year, Pulgini & Norton, LLP, reports.
What's more, the housing inventory in the city is currently at an all-time low, with for-sale homes on the waterfront and in Beacon Hill down 36 percent.
Many experts believe the limited available housing inventory is a good sign that the Boston real estate market has fully recovered. The decrease in for-sale properties makes it a good time to put up houses for sale in Boston while the metro area real estate market heats up.
With home prices in suburban neighborhoods in decline, home sellers in the greater Boston area may be able to take advantage of the huge demand for appreciating property. The month of February was tough for many Massachusetts natives, as home foreclosure rates rose by approximately 41 percent over the previous year. According to the source, 1,394 properties entered into foreclosure and 736 were foreclosed upon - both significantly up from February 2011.
Selling a Boston home could prove to be a wise decision to make in April, as homebuyers with the means to purchase new properties may be more willing to offer the asking prices many sellers are looking for today.