Investing in Massachusetts

[Timothy Lewman]

USB shows Boston market fairly valued. It's somewhat surprising as prices for Mass overall continue on their tear as "last month the median single-family sale price increased 5.8 percent to $402,000, up from $380,000 a year earlier. The median single-family home price has now exceeded $400,000 for three consecutive months. Single-family home sales in August totaled 6,818 transactions, a 0.8 percent increase from August 2017. Year-to-date, the median price rose 6.4 percent to $389,500 while sales edged 0.6 percent lower with 40,035 transactions." Condo prices showed no releanting either with sales in August totaling 2,618 transactions, marking a 1.1 percent decrease from a year earlier. "Meanwhile, the median condo price climbed 6.9 percent to $365,000 – the highest price ever achieved for the month of August. Year-to-date, condo sales increased 2.6 percent with 16,986 transactions compared to the same period in 2017, while the median price rose 10.1 percent to $375,000." Source: Banker and Tradesman. It's clear that the Feds relentless drive towards higher interest rates are not having any effect on demand on Massachusetts market. This is a great time to invest in Massachusetts real estate.