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A Record Year in South Boston Real Estate

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  A Record Year in South Boston Real Estate After a down year in 2020, the South Boston real estate market rebounded spectacularly in 2021. The latest figures from Banker & Tradesman show that South Boston had 1,158 transactions in 2021, the highest ever. A number of factors – post-pandemic demand, a desirable location, and good interest rates – came together “and resulted in a record year for transactions,” said Jackie Rooney, broker/owner of Rooney Real Estate in South Boston. “I think there was pent-up demand from 2020,” said Rooney. “2020 was really the heart of COVID. We were shut down pretty much from March through May. Not only were people not buying in those months, but developers couldn’t do work on their buildings for three or four months.” Some of the projects that were slated to go on the market in 2020 got pushed into 2021. Rooney himself had two projects that should have been done in 2020 but got moved into 2021. Southie is the location to be, ano...
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Boston Neighborhood Guide

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Boston Neighborhood Guide   Allston Allston is a diverse and active neighborhood in Boston. The community is home to many students, young professionals, longtime residents, and immigrants. You’ll find a bustling mix of residential and commercial areas in Allston.     Back Bay If you’re wanting to live in a picture perfect neighborhood, you’ll discover that Back Bay is one of the most appealing neighborhoods in the United States. The community features elegant architecture and vibrant commercial streets.   Beacon Hill Boston’s historic Beacon Hill neighborhood is one of the oldest communities in the city. The architecture combined with the layout of the area provides an old colonial Boston feel and the narrow streets feature beautiful brick sidewalks and gas lamps.   Brighton The peaceful Boston neighborhood of Brighton is dynamic and many young families and professionals call it home. The area offers a vibrant mix of old and ne...
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South Boston Market Recap - February 2020

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  As we did in the January recap, we will focus on the condominium sales and listing data as the sample sizes for both single-family and multi-family are too small to gather any trends. Also, the source of the data was exclusively from MLS, which we find to be more comprehensive, especially on the listing side, and timely as we can complete these monthly reports in the first week of the following month. Please note that the Covid-19 state of emergencies had not taken place in February, so the virus had little effect on the real estate market in February. We certainly anticipate the virus effect in the March and April Recaps.  Our overall conclusion for February 2020 is that the South Boston residential real estate market was heating up and had a considerable amount of energy and activity that is reflected in the Sale Pending, Days on Market, and Current Listings graphs below. Although both the number sales and the median sale price was down from January 2020 an...
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South Boston Market Recap March 2020

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  For the March recap, we will, again, only review condominiums as the sample sizes for single-family’s and multi-family’s are too small to gather any trends. In our quarterly report, we will include singles and multis. Also, in the interest of disclosure, the source of our data was from MLS. Although the Covid-19 state of emergencies were in place for the second half of March, surprisingly, the front-line data, i.e. current listings, pending sales and days on the market, showed very little drop off from the February, 2020 numbers and the year over year numbers from March, 2019. There were 44 condominiums that closed (real buyers) in March, an increase of 82.6% from the 23 in February, and an increase of 20% from March, 2019. This increase shows how strong the real estate market was in January and February before the virus. Keep in mind, that there’s a 45-60 day lag time from offer to closing. We do anticipate the April closing numbers to drop-off a bit due t...
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South Boston Market Recap April 2020

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  For our April recap, I will not only graph and analyze condominium sales and listings but will also provide a year-to-date (YTD) market review as compared to the same period in 2019 (Year-Over-Year) and a 5-year YTD report. I will continue to focus on the condominiums, not by choice, as 134 of the 146 sales YTD (92%) have been condominiums. I have included market data charts and graphs for Single-family and Multi-family homes. Still, as you'll see below, the sample sizes are too small to gather any trends except that the number of sales for singles and multis are down 57% and 65%, respectively, as compared to 2019. In 2019, YTD, April 30th, there were 14 single-family sales and 17 multi-family sales as opposed to 6 sales for each, in 2020. This substantial decrease is not solely attributed to the pandemic as the shutdown did not take place until March 17th. Accepted offers for this type of housing tend to take longer than the 45-60 days it takes for condo...
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South Boston Real Estate Update: Fall 2020

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  With the start of Autumn upon us in the city of Boston, the real estate market has held its own in the face of what has undoubtedly been, and continues to be, uncertain financial times for many in the face of the Covid-19 crisis. Considering the city was shut down for the better part of three months, it is an exciting time to be involved in buying, selling, or renting.  Boston, more or less the capital of New England, has proven in four months that there is a pent-up demand for housing. It has rebounded the best in the country with a diverse landscape and manageable size. While small, its rich history, diverse economy, and oceanfront make it among the most interesting and appealing to many, even as our future may be increasingly in telecommuting. Within Boston, Southie is assisting in that boom, with condos, single & multi-units aplenty. Condos represent 90% of the year to date’s market sales with 352 purchases vs. 22 singles and 18 multis, according to ...
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