Fueled by a significant increase in inventory, the Dorchester Real Estate Market is on the decline. There are now more renovated and new construction units on the market in Boston as a whole than ever before. This includes both sales and rental units. As more units have been approved and built, home buyers and renters have more choices than ever before. It is also important to note, that recent legislation has been implemented in Boston that has essentially put an end to airbnb rentals. With a need to fill their vacant rental units that were once lucrative airbnb rentals throughout the city, many landlords have resorted to incentives that include free rent for several months and $0 or reduced move in costs to lure would be buyers into attractive newly built rentals. As a result, we are seeing the beginnings of a buyers market. You can view the data here:Data Change 2018 2019 Average sales price -5.50% $584,000.00 $552,000.00 Average List price -4% $578,000.00 $554,000.00 Median Sales Price -6% $570,000.00 $535,000.00 Total Listings Sold -18% 74 Listings 61 Listings Total Sales Volume -22% $43M $34M Average Days To Offer 40% 23 Days 32 Days On Market Inventory Snapshot 127% 64 Units 145 Units If you’re looking to buy sell or rent a home, visit http://BTRealtyGroup.comIf you need a loan visit http://BostonRealtyFunding.com – we’ll help you get approved to buy and help you find your next home or investment property.
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