Senné has been operating in the Greater Boston area for over 10 years. Each day, we see firsthand how the market shifts and grows. However, when you spend your days working on individual transactions, it can be hard to see the heights that Boston real estate has reached.
Investors from other areas of the country often ask us if the Boston real estate market is as active as it seems. While we know the answer is yes, it’s good to take a bird’s eye view of our local real estate market to gain some perspective on just how large it really is.
Here is Boston’s real estate market, by the numbers:
Boston home values have increased 45 percent in the last five years.
There are over 480 real estate brokerage firms in Boston.
Boston is the second best city for real estate investors in the country, according to the Emerging Trends in Real Estate report.
Boston homes sell for 98.75 percent of the asking price, on average.
There’s over 66 million square feet of office real estate in the city.
There are around 300,000 housing units in the city of Boston, with thousands more being created each year.
Boston has the third most expensive rents in the country.
There has been a 33 percent increase in property transactions between $1 and $5 million since 2016.
The middle market for multi-family sales surpassed $1 billion in 2018.
Foreign investment in office, multifamily, industrial, retail, and hotel assets increased to over $3.5 billion in 2018.
These facts and figures show us just how active the Boston real estate market is. If you’re looking to jumpstart your real estate portfolio, you’ll want an experienced brokerage on your side. Senné Associates have the market knowledge to help achieve your real estate goals. Contact us at 617.314.9400 or visit senneresidential.com to get started.
Published: September 8, 2020
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