Last year was the strongest for Massachusetts real estate since 2006, with home sales rising 9 percent from 2014 to 83,961, according to a new report from Lamacchia Realty.
Lamacchia’s report also zeroed in on specific Massachusetts communities, and after sifting through the data, we’ve isolated the 10 Greater Boston communities that saw the most real estate activity in 2015.
Do you work in any of these markets? We want to hear from you!
| Metro Area | 2015 Home Sales | Percent Increase in Home Sales – 2014 to 2015 | 2015 Home Prices | Percent Increase in Home Prices – 2014 to 2015 |
|---|---|---|---|---|
| Wayland | 269 | 46.2% | $692,000 | 14.2% |
| Saugus | 379 | 45.2% | $335,000 | 4.7% |
| Lawrence | 548 | 36.3% | $239,000 | 13.8% |
| Leominster | 539 | 35.8% | $195,500 | 6% |
| Somerset | 230 | 33.7% | $226,000 | 0% |
| Hyde Park | 236 | 32.6% | $351,000 | 8.7% |
| Swampscott | 296 | 29.3% | $400,000 | 5.3% |
| Weymouth | 856 | 27.4% | $305,000 | 3.4% |
| Lynn | 994 | 24.6% | $265,000 | 9.5% |
| Stoughton | 382 | 24% | $280,000 | -1.7% |
Photo Credit: John Phelan, Creative Commons Attribution 3.0 Unported, https://commons.wikimedia.org/wiki/File:MA_Route_126_northbound_in_Wayland_MA.jpg
I have sold real estate in the Lynn market for over 30 years. As the chart above shows, Lynn has sold more units, than any other area listed. We are literally “order takers” here. While a property is here today, it is under agreement a few hours later. There are too many buyers and not enough inventory, which seems to be the same story everywhere. Our biggest sellers are multi-family homes, with single family homes being a close second. It is a rarity to see a new triple decker home being built (unless it was being rebuilt due to a fire). These are the most desirable. I could sell those all day long. I attribute this to low interest rates plus, the amount of people who are now in this country, and are willing to buy. Rents are out of sight. Three or four unrelated people can now buy one multi family home and live in it, for less than individually paying rent. Rents are at an all time “high”. When was the last time you heard of rents falling? With the advent of low down payment programs, one would be crazy not to buy. Many people own more than one property, and this also makes availability scarce. It is time for a buyer to get “skin in the game” and be a investor. Get your OWN roof over your head and take advantage of the rates and tax brakes while you still can.