Demand for multi family homes in Boston is eroding based on the most recent MLS data. Total 30 day sales of multi-family properties were down for the fourth month in a row in Boston. This drop in total sales occurred as economic conditions have worsened. Soaring inflation has prompted the Fed to raise interest rates 6 times thus far in 2022, effectively stifling demand for Boston real estate.

The market for multi-family was not immune to this trend. Median sale prices for Boston multi-family properties have leveled off over the last 5 months after seeing record growth throughout the previous 10 years.

For the first time since the last housing crisis, year-over-year median sale prices for multi-family properties hit negative margins in 3 of the past 6 months.

Boston’s real estate market for single family homes took a big hit last month. Total single family sales in October were down by -14% year over year in Boston after the Fed raised interest rates in September by 0.75%. That was the third increase of 75 basis points in four months and 5th rate hike of 2022 up until that point. As a result, median sale prices for single family homes took a big hit in November and are trending downward.
Boston Single Family Median Price Hits Lowest Point Since November 2021

Last month, Boston’s median sale price for single family homes was $759K. While still up +7.09% year over year, it was the lowest median sale price recorded for the City of Boston since October 2021. It was also a steep drop from the $943,013 single family median sale price recorded just a month earlier in September.

Boston’s real estate market for condos notched a surprising spike in median sale price last month despite year-over-year sales being down by double digit margins. Boston’s median condo sale price in October jumped by +9.7% month-over-month, and is up +14.79% compared to October 2021. While the MLS data shows that prices are still up year-over-year, rising interest rates have already taken a toll on the demand for Boston condos and prices will likely begin to tumble soon.

As we enter the final quarter of 2022, it appears like the decade-long period of growth for Boston’s real estate market is grinding to a halt. The most recent MLS data shows that rising interest rates have effectively suffocated demand for Boston real estate in Q3. Total 30 day sales from September are down -37.24% compared to a year ago. Meanwhile, the total number of sales listings are up 25.10% over the same period.

As a result, Boston’s 30-day median sale price has been slipping from the record high of $876,091 set in May of this year. Last month’s 30-day median sale price of $807,303 is still up by a slim margin (+3.64%) compared to September 2021, but current data trends show that year-over-year price growth will soon be in the red in Boston. Let’s take a look at the trends driving Boston’s real estate market.
Demand For Boston Real Estate Waning

In September, the City of Boston recorded 455 residential real estate transactions across all property types. That marked a -37.24% drop in total sales from September 2021 and was the lowest recorded September sales total of the past 5 years.

Physical therapists are some of the most caring people on the planet. They often deal with patients who have gone through traumatic injuries or have debilitating conditions. And they know very well how hard it is to go through something like that. That’s why a good physical therapist will do everything in their power to lift some weight off your shoulders.

If you’re seeking help, but don’t quite know what makes a good physical therapist, follow our guide so we can help bring you some clarity.

Chiropractic care often falls under the radar in regard to one’s health. Oftentimes, many people will go about their day dealing with neck, spine, and other joint pains simply accepting that “it comes with age.” And while that may be true, the benefits of chiropractic care are just as real.

Most homeowners agree that your roof is nothing to mess around with. A damaged or leaking roof can result in a long list of unpleasant outcomes, including structural damage, rotting wood, mold, and even electrical fires. Any sign of a roof leak should take high priority on your list of upcoming home repairs.

But what if you’re unsure of whether you want to repair, re-roof, or replace it entirely? Depending on your situation, you could save a considerable amount of money repairing a roof compared to replacing it. Here we’ll cover your three options to fix a damaged roof and when you should and shouldn’t consider it.

Drywall repair is a fairly common home repair project that most homeowners will face at one point or another. Depending on the size and location of the damaged drywall, the repair work can range from simple to moderate in terms of difficulty. For most small drywall holes located away from wall borders and trim, the repair itself is pretty straightforward.

So if you’re a DIY homeowner who prefers to fix it yourself instead of hiring a handyman, this is one that’s definitely in your wheelhouse. You likely have most of the tools you need to do the job yourself, and doing so can save you anywhere from $200-$300 in hiring a drywall contractor.

You probably already know this, but South Florida has become one of the nation’s hottest areas, both literally and figuratively. The amount of people moving to the Miami metro has exploded since the start of COVID. This has pushed housing costs and rent prices through the roof, forcing many renters to move locally within South Florida in search of more affordable rent prices.

As a result, more people are moving both to and within South Florida than ever before. So, whether you’re a new resident from another region or a local South Floridian moving to a new neighborhood, you’ll want to follow these tips to ensure a smooth and easy move.

If you’re planning on breastfeeding, it’s important to understand the direct link between your baby’s health and your diet.  Just like during pregnancy, what you consume will be passed on to your baby.  Many new moms are aware of this, but aren’t sure what foods to avoid while they’re breastfeeding.  This article will help you understand what foods could be a risk to your baby.