The 2012 second quarter numbers for Boston residential real estate sales show that while volume has increased significantly, values still remain steady. In Q2 2012 the total sales volume for Boston increased by 20% for the same period last year and increased 93% vs Q1 2012. While the average sales price increased by 31% vs Q2 2011, there was only a 1% increase in the average sale price vs Q1 2012. The increase in volume can be attributed to mortgage interest rates being at historical lows but it will be interesting to see what happens in Q3 2012. While rates are fantastic, the lending guidelines still remain relatively tight which is putting downward pressure on home values.
Tags: Boston Homes, Boston Real Estate, Boston Real Estate Market