Local investors also recognized that those numbers were on the rise. The Boston real estate market currently boasts a price point well above the national average. This means that the Boston rental market is good for buying an investment property to rent out traditionally. Commute. Real estate information company Zillow expects to see the creation of new renter households to bring fresh demand to the market as the country begins to rise out of the pandemic. While it’s too soon to say exactly what the Coronavirus will do to the real estate market, it’s fair to assume there will be an influx of foreclosure filings once all of the dust settles. This makes it a good investment location for beginner investors as they won’t have to enter into bidding wars. Have you thought about investing in the Boston real estate market? In a distant second, auction foreclosures represented 32.4% of the market, while the remaining foreclosures were bank-owned. Jump To Another Year For The Boston Real Estate Market: The Boston real estate market is in good health, despite everything that has happened in 2020. One of the greatest boons in real estate was followed by one of the most significant busts we have ever seen. We have already seen the beginning of positive trends, and the rest of 2020 should impress. Daniela holds a Master degree in Middle East and Mediterranean Studies from King’s College London. Now that you have a better understanding of what’s impacting the Boston housing market, let’s have a look at the performance of both long term and short term rental properties there. The numbers below have been computed by Mashvisor’s investment property calculator based on big data and predictive analytics. Any reliance on this information is at your own risk. Another important trend in the Boston housing market forecast for 2020 is that condos and apartments will be the prevailing property type. The Boston real estate market has paced the national sector for the better part of a decade. The current median home value doesn’t tell the whole story. They estimate that the probability of rising home prices in Boston, MA is 78% during this period. While it is too early to tell exactly what real estate in Boston will look like for the foreseeable future, it is possible to interpret the early impact of the pandemic. What Will 2019 Look Like for Airbnb Real Estate Investing? However, the job growth rate could have used some improvement. As recently as March, in fact, “the number of properties that received a foreclosure filing in Boston, MA was 5% lower than the previous month and 5% lower than the same time last year,” according to RealtyTrac. Moreover, the listing prices of houses for sale in Boston, MA increase at reasonable rates which is another sign that Boston 2020 is not a seller’s market. Malden Housing Market Information. This makes foreclosures excellent investment properties. Unemployment spiked slightly more in Boston than the national average and has come down at a slower pace. However, in order to truly understand the position of real estate prices, they must be placed in context with the national housing market. In 2020 Boston market prices are forecast to increase even further, worsening affordability for homebuyers. The Boston housing market is expected to continue growing at a reasonable rate, providing long term appreciation. While both traditional and Airbnb rentals are an option in Boston, long term rentals are the only ones which can be used as independent, full-time investment properties. In recent memory, tight inventory has limited buying potential, but the number of homes for sale in 2014 simply didn’t meet demand. Get started by checking out the most popular home & the most saved home by Coldwell Banker homebuyers in the last 30 days. As recently as September, the average commitment rate on a 30-year-fixed-rate mortgage dropped as low as 2.89%, according to Freddie Mac. I recently spoke with the president of Luxury Portfolio International (LPI) Mickey Alam Khan about luxury real estate market trends for 2021. From the perspective of Boston, MA real estate investors, this means that there are about 466,000 potential tenants, and this number is expected to increase in 2020. Below are some popular Market Trends Articles by Zillow. At the end of 1994, 18.4 per cent of households rented privately. The calculations are based on predictive analytics as well as real estate comps and traditional and Airbnb rental comps from the Boston housing market. It would appear as if inventory levels did the same. In addition to increasing equity for the majority of owners, however, the city’s impressive appreciation rate has simultaneously limited the number of underwater homeowners. Overall market activity . All necessary factors are present to make the Boston real estate market trends 2020 positive. Demand for homes is strong, and a good population of wealthy buyers and a fast recuperating economy means demand for homes will return by August. On the other hand, the city wasn’t exactly known for its affordability, even in 2016. It depends on your budget and your investment goals. Dog Owners. We would love to know your thoughts on real estate in Boston in the comments below: Ready to start taking advantage of the current opportunities in the real estate market? When thinking about the best places to invest in real estate in 2020, Boston is among the first locations which come to mind. Perhaps even more importantly, is it a good time to buy a house in Boston? Median Home Value (1-Year Forecast): +4.1%, Average Days On Market (Single Family): 31, Boston-Cambridge-Quincy Unemployment Rate: 10.8% (latest estimate by the Bureau Of Labor Statistics), Boston City Population: 694,583 (latest estimate by the U.S. Census Bureau), Median Household Income: $65,883 (latest estimate by the U.S. Census Bureau), [ Thinking about investing in real estate? There is no better lead for a real estate investor than a motivated seller, and pre-foreclosures appear to be the city’s largest source of motivated sellers at the moment. Bank-owned foreclosures were the only distressed properties that declined year-over-year. From the Spring of 2005 until 2012 the value of real estate dropped every year. The accuracy of the Boston housing market trend prediction is 78%. In fact, pre-foreclosures during 2014 made up 64.9% of the entire foreclosure market. 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