The latest numbers are in for the City of Boston's October Market Performance, and it seems they're agreeing with the week's theme, as there are a lot of things to be thankful for! Median Sales Price of homes across all properties are up 7.1 percent, and closed sales of single-family properties gathered steam compared from the same period last year, increasing by 4.1 percent despite the drop in available homes with the inventory dropping 19.2 percent.
Condominium Sales, on the other hand saw a better-than-expected decline in total closed sales, down by 2.7 percent. That figure is better than the -4 percent market watchers were anticipating, given the continuous drop in inventory, which was 20.4 percent lower compared to a year ago.
Here's a closer look at how Boston is faring compared to the nation's numbers:
Looking at the region, Boston is also looking sharp compared to the Northeast as a whole:
Overall, though the nation has some strides in terms of total closed sales, keep in mind that you will need to scale Boston's real estate market to terms. Nationally, and throughout the Top 20 Property Markets, Boston still places No 2 in terms of October's figures. Regionally, New York - of course - trumps Boston in terms of available properties, and such has an increased probability for closed sales. Looking at the Median Sales Price however, you can see that Boston places ahead of the rest in the whole region.