February 3, 2017
By Journal Staff
By Sue Ellen Woodcock
The real estate market showed median home sale prices have increased between 8 to 21 percent in the Revere, Winthrop, Chelsea, East Boston, Everett and Lynn.
Revere single family home sales price comparing 2015 to 2016 were up eight percent from $330,000 to $356,250. There were 244 sales in 2016 and 196 in 2015. In the condo market there was a 44 percent increase in condo sales, from 134 in 2015 and 193 in 2016. The median condo sales price was down by 6.6 percent from $289,000 to $270,000.00.
According to the Massachusetts Association of Realtors, Winthrop single family home sales price comparing 2015 to 2016 is up 10.7 percent, or $375,000 to $415,000. There were 89 sales in 2015 and 79 sales in 2016.
Winthrop condominium prices were up 3.5 percent from $285,000 in 2015 to 295,000 in 2016. There were 85 sales in 2015 and 89 in 2016.
Jim Polino of Highland Real Estate in Winthrop said young people are being pushed out of the market and into communities like Winthrop, East Boston, Chelsea and Revere.
“Buyers are coming from all over Boston, the South Shore and the North Shore,” Polino said. He noted that a drive from Winthrop to South Boston took him just 15 minutes.
The market is seeing the number of days on the market being reduced and there are multiple bids on properties.
SEE FULL STORY at Revere Journal