Boston Real Estate Market 2018 ⌂ Home Price Forecasts Boston MA Metro Newton Cambridge Quincy

Boston Real Estate Market 2018

The housing market in Metro Boston is back on track and looking healthy for 2018.  A number of factors are driving this recent growth. The prediction is that prices will rise in 2018 as they will in most of the US housing market.

The reason for the unusual late season surge is due to a big pent up demand from homebuyers and plenty of foreign real estate investors. Low mortgage rates, a strong economy, and the inventory of homes for sale is bolstering sales.

The 1,101 single-family detached homes sold in October 2017 was the fourth highest sales total on record for the month and was a 14.3 percent increase on the 963 homes sold in October 2016 – GBAR report.

Home prices in Boston in October according to GBAR rose 8.2% and condos rose 6.6%. According to Zillow, home prices are forecasted to climb another 5% in 2018.

Home prices grew 3.1% over the last 12 months in Metro Boston and 7% in the city of Boston itself. NAR reports the average home price was $633,000. Zillow has the average detached house price at $544,000.

As the graphic below shows, prices have been rising fast since 2013. The trend looks the same for the next 12 months based on housing constraints, demographics, and a positive economic forecast.

This chart below courtesy of shows home price growth in Boston’s largest communities.

Town Avg Home Prices Average Home Price 2014 Forecast Price end of 2108
Newton $895,200 $723,000 $978,000
Cambridge $669,200 $515,000 $746,000
Somerville $559,200 $427,000 $622,000
Boston $504,200 $406,000 $584,000
Quincy $393,600 $330,000 $431,000
Lynn $276,900 $227,000 $335,000
Lowell $240,800 $200,000 $267,000
Brockton $232,600 $186,000 $272,000
Lawrence $218,000 $176,000 $254,000

Take a good look at this heatmap of rental prices, and it might give you a good idea of home prices as well. The further you go from Downtown Boston, the more likely you are to find affordable homes. Be forwarned of Boston’s congested, time consuming commutes to which I can attest are as bad as any.

Boston Home Prices Not all That Severe Compared to California

Too many reports have it that Boston’s real estate is extremely unaffordable, but take a look at prices in Los Angeles, Washington DC, and New York. Compared to the Bay Area and LA Home prices, Boston’s real estate looks very good, even for buyers.

See what’s happening in southen US cities: Miami Real Estate forecast , San Diego Housing forecast, and the Houston Real Estate forecast for 2018. And compare to the super hot city of Seattle Wa. Who is going to win SB52? SuperBowl 2018 Predictions.

Investors might want to review properties outside of Boston city such as Easton, Lawrence, Worcester, Lynn, Salem, Stoughton, Framingham, Brockton, and Dedham. They’re nice communities and there’s plenty of property to build on.

However, it looks as though home prices are about to rise in Boston. So the questions: “should I buy a house?” or “should I sell my house” in Boston aren’t easy to answer. To help with a sell decision, see the post on selling tips and on best renovation for ROI.

What Supports the Boston area Economy?

Boston has a strong regional economy bolstered by transportation, tourism, financial services, and increasingly venture capital. Boston is becoming the Silicon Valley of the north with major influx of funding for startups in FinTech, MedTech and EduTech. Ultimately, all decisions to buy a home in Boston relate back to the US economy, US housing market, and the Massachusetts economy.

Boston’s Powerful Economic Engine

Boston’s economy is a power house yet restrictions on immigration will retard its output. Retiring babyboomers (although many are continuing to work) and a full employment situation mean growth will be constrained by a lack of workers, including skilled workers from other countries.

It’s good news for workers in other cities and states who need jobs. If you can find somewhere to live in Boston, you should have little trouble finding a great job.

Employment and Wages in Massachusetts Will Rise in 2018

Good news for workers is that wages are expected to grow 4% which will result in higher home prices. The unemployment rate will fall to 3.7%. Higher costs for wood will push home prices up further. A good strategy might be to buy soon because all factors point upward.

The real estate market et al, is expected to grow 2.2%. All of this will heat up the Boston market making housing more unaffordable. And just like California, workers will be willing to relocate further from the city to buy what they can afford. And Millennials do want to buy homes or condos with their growing wages.

Finding a Home In Boston’s Many Neighborhoods

If you’re thinking of a move to Boston, you’ll want to scout out the most affordable neighborhood for you and your family. Prices vary a great deal. NAR reports these recent prices:

Area Units For Sale Units For Rent Median
Listing Price
Back Bay 172 324 $1,499,000
Beacon Hill 70 98 $1,200,000
South End 186 226 $1,295,000
Back Bay East 85 148 $1,550,000
Downtown Boston 100 165 $1,125,000
Brook Farm 64 31 $619,000
Back Bay West 52 118 $1,399,000
North End 59 104 $849,000
Telegraph Hill 61 105 $679,000
Columbus 74 82 $1,380,000
Washington Park 26 23 $549,000
City Point 60 74 $839,000
Columbia Point 56 89 $569,900
Shawmut 70 79 $1,399,000

With the Boston housing market looking so good for 2018, and with employment/and economic strength so positive, it might be a no brainer to move to Massachusetts in 2018.

Latest Posts: Real Estate Investment Tips | Miami Real Estate ForecastHomes for Sale | Apartment Rentals Bay Area | Toronto Real Estate Forecast |  Los Angeles Real Estate Forecast | San Diego Real Estate | New York Real Estate | Housing Market Forecast | When Will Dow Jones Nasdaq S&P Crash?Housing Boom Toronto | Lead Generation | Boca Raton Homes | Boca Raton Real Estate |  Lead Pospecting Tips | SuperBowl 2018 PredictionsSeattle Real Estate |  Real Estate Lead Generation | Auto Insurance | US Weather Forecast | Luxury Vehicle InsuranceMortgage Calculator | Mississauga Real Estate Forecast | Best Investment Tips 2017 | Palm Beach Homes for Sale | Should I Sell My House? | Best House Renovations

Homes for Sale in Denver | Denver Colorado Real Estate Listings CO Houses

Homes for Sale in Denver

Buying a home in Denver this year might be the wisest decision of your life, and it’s cheaper than renting.  Renting gives you no equity, but then you know that. Where to live? Denver has a good quality of life and the homes here are affordable. And Denver’s economy looks strong, mortgage rates remain low, and real estate investments here offer better long term value than any other investment.

Not everyone has money to buy a home, condo, vacation property or investment property. However, soon they will and prices will rise. The problem you’ll discover is that there’s not a lot of construction going on and a lot of homeowners don’t want to sell. But they’re getting to ready to sell this year.

The Best Neighborhoods to Buy in Denver

There are plenty of fantastic communities in the greater Denver region. You’ll find homes in your price range and above, however not all neighborhoods have equal lifestyle amenities, commute times, and outlook for appreciation. You might never sell your Denver Home but you’ll always want to know it has a lot of value, because you never know. Take your time and investigate the quality of each neighborhood before you spend time looking at homes for sale.

You can find out more about Denver’s best neighborhoods at, who have ranked the top 25 best neighborhoods in Denver. They ranked Denver communities using four variables: home prices, crime data, school rankings, and an X factor score, that accounts for esoteric elements such as open space, public transit, and restaurant and nightlife options. You’ll enjoy the info on the neighboorhoods all having a wide range of prices. The photos of homes are excellent.

At this time of writing, there were 1640 homes for sale in Denver, through Zillow.

Screen Capture courtesy of Zillow and Bing

Zillow’s Home Price Estimator

Zillow’s home price estimator tool suggests that average prices in Denver will rise to  near $400,000 by the end of 2017.  That’s an appreciation of $30,000+.

Screen Capture courtesy of Zillow

Here’s Denver’s Mile High Magazine’s list of top 25 Denver Neighborhoods:

Neighborhood Average Home Price
Congress Park $487,300.00
Hilltop $1,017,400.00
University Park $464,500.00
Hampden South $292,300.00
Indian Creek $252,000.00
Sloan Lake $521,000.00
Windsor $197,300.00
University Hills $418,700.00
Washington Park $674,600.00
Rosedale $442,100.00
South Park Hill $474,200.00
Wellshire $504,400.00
Belcaro $1,030,000.00
University $406,000.00
City Park $418,200.00
Mar Lee $235,400.00
Montclair $457,600.00
Berkeley $434,100.00
Country Club $1,098,000.00
Virginia Village $341,200.00
Cherry Creek $739,000.00
North Park Hill $327,600.00
Hale $254,100.00
Barnum West $215,500.00
Washington Park West $464,300.00
Top Denver CO Neighborhoods
Screen capture courtesy of – Denver’s Mile High Magazine

Denver, the Sunny With 4 Season Fun

More about Life in Denver Colorado

Finding the Funds to Buy a Home in Denver CO

If the issue is the downpayment for your purchase in Denver as a first time buyer, there are ways to acquire the funds. And you’ll want to being creative and determined to get your mortgage because owning your own home is a life-changing, success building act. The US economic forecast points to many years of outstanding growth and prosperity for Americans.

Related posts: Toronto Homes for SaleHousing Market | Bay Area Housing ForecastLos Angeles Housing Market | Toronto Housing Market | San Diego Housing Market | Real Estate Agents| Vancouver Condos | Toronto Condos | Vancouver Housing Forecast | Bidding Wars | LA Real Estate SEO | Realtor Growth Hacks | Realtor Skills | Realtors Benefits | Home Search | Buyers Guide to Canadian Real Estate | USD to CAD | First Time Home Buyers | Rental Property | Real Estate Leads Canada | Tips on Searching for Homes for Sale