Wynn-ing:💰What happens next?
The Boston real estate market continues to climb the ranks among the best in the world. What contributes to this you may ask? For starters, Boston ranks third in the highest share of millionaire households in the United States. Other factors include:
- Highest ranked medical care and facilities in the world with cutting edge technology
- Prestigious colleges and universities
- New project development & skyscrapers
- A "Less hectic" version of New York City. Just a train ride away yet shares many of the same characteristics and influences
- Major companies and corporations locating headquarters int he heart of Boston
There are many other variables that contribute to the market increase in and around Boston as well. As a matter of fact, the Boston real estate market was never "down" but rather going through different trends impacted by outside influences.
With the recent announcement of the Wynn Hotel & Casino (Wynn Boston Harbor) in Everett, projecting to cost $2.4 billion, we are already seeing another change in the real estate market. Cities such as Malden, Dorchester, Everett, Revere, Chelsea, Somerville, and East Boston, are becoming MAJOR players. As price/Sq Ft continues to rise, here are some quick facts that combine all of these super cities.
- On average, a single family home costs $592 ,000
- Single family homes start at $250,000 and condos start at $170,000
- Average days on market: 60
- Average days on market UNDER $300,000: 20
Consumer wise, multi family homes and multi-bedroom condominiums units have been in large demand. There are countless ways to invest, between many different options and locations. Let's put your money in the driver's seat for all the right reasons. As price/Sq Ft continues to increase, ask yourself. Is now the time?
Wynn is adding 4000+ jobs to the city, and many will need to relocate considerably close to the city. Let that sink in..... That should put a pretty penny into any investors pocket (should be your pocket).
💸Control the real estate game like how you play cards and you'll be Wynn-er! 💸
There are currently 154 places for rent that cost $5,000 or more, 598 that are in the $300...