One of the most common questions I get as a real estate agent is, “What’s a good offer?” I define a good offer as “an offer that brings you closer to getting what you want.” In my experience, this handy chart is one of the best indicators of how strong an offer has to be move a buyer closer to getting what they want. Why?
What does it take for a condo to have the most valuable square feet in a market? Find out when you read my featured column in Curbed and see the condos with the most valuable square feet in nine key Hub condo markets. If you want to understand square foot value more, sign up for my FREE eBook: A Guide to Understanding Hub Condo Value by the Square Foot.
Thanks out to Paul Restuccia for including some of my insights and MLS breakdowns in his Boston Herald article about the Hub’s fall real estate market: Hot Property: Competition for condos in Boston hits fever pitch.
I broke down, by the year they were built, more than 20,000 single family homes that were available for sale in MLS. The median price of a single family home that was built recently was nearly double the asking price of homes built decades ago. Ironically, the square footage of houses built recently was also nearly double the square footage of homes built decades ago.
This chart compares the median condo price in the first seven months of 2005 to the median condo price in the first seven months of 2013.
Clearly, the biggest gainer is Midtown and Midtown can thank Millennium Place for the impressive increase.
This visual reflects how many multifamily homes sold in each market in the first eight months of the year. How do the sales compare to last year? Check out my featured post in Curbed and find out!
The finishes start to sing.
Check out the finishes from these recent Jones Hill sales.
I think they were definitely singing that old New England real estate tune, “Buy Me.”
Click “read more” to check out some more Jones Hill finishes.
How can you tell if you have achieved awesomeness in Charlestown real estate?
It starts by having a 10 for location. Not a 9, a 10.
Hardwood floors, high ceilings, stainless steel appliances, granite counters, laundry and extra storage certainly helps.
But an incredible roof deck and minsicule price ($425K) puts you over the top.
Check out my new 2-bedroom listing at 58 Winthrop. I will be there this Saturday 11:30-1 and Sunday 12-2.
How is the condo market? Kind of depends where you live, right? I compared sales versus 2013 and saw that in Dorchester condo sales are surging. In South Boston, they are rolling. And in a few Boston markets, quite frankly the transaction counts have taken a step backwards. Find out more about the markets in my featured post in Curbed.
Lately, my real estate deals have been moving at warp speed. The property goes under agreement, I blink and it has closed.
This terrific three family in a red-hot part of Dorchester went from accepted offer to a closing table in just 15 days. The Brookline condo and single family I recently sold also closed at similar paces.
Of course, not everybody and every deal is built for speed, so if this keeps up, I might have to ask that all my real estate clients wear seat belts.
About David Bates
David Bates is a top producing real estate agent who has sold condominiums, single families, and investment property in a variety of Boston neighborhoods and many of the city's better suburbs.
His insights appear not only in in this original content blog, but also in the most established local media, including Banker and Tradesman, Boston Magazine, Boston.Curbed.com, The Boston Globe, The Boston Herald, Bloomberg News and NECN.
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