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Boston Real Estate - Data released today by HouseSavvy, an online full service real estate organization, documents that the Greater Boston Real Estate Market continues to be one of the healthiest markets in the country. One of the strongest indications is the increase in the average sale price of homes sold – from $393,359 in December, 2008 to $461,042 in December, 2009. At approximately the same time, the average sale price nationally has dropped about 3% year-to-year - from $233,000 in 2008 to $216,400 in 2009. (The "Greater Boston Market" consists of the 167 towns and cities within the six counties surrounding Boston: Bristol, Essex, Middlesex, Norfolk, Plymouth and Suffolk).

Other positive indications include year-to-year sales activity (up almost 4%) and unsold home inventory (down 18.7%) to a present 6 month supply. According to Walter Hall, founder and Chairman of HouseSavvy, unsold home inventory is the single, best indicator of the overall health of a given real estate market. This figure is derived by dividing the number of unsold listings at the end of the month by the number of sales taking place in that month. Real estate experts have long contended that 5-6 month supplies of unsold homes equate to a "Balanced Market" with sellers and buyers about equal and home values holding steady.

When asked what he felt most accounted for this strong showing, Mr. Hall said, "the Greater Boston Market is stronger than most other metropolitan markets throughout the country for two primary reasons: first, in real estate, what goes up fast always comes down fast and hard; fortunately, our market did not experience the large, rapid run-up of prices many other ‘hot’ markets experienced prior to the bursting of the real estate bubble. The second major reason is the diversified economic nature of Greater Boston, with its base of the health industry, academia, financial services, and high tech."

Mr. Hall cautioned homeowners not to be misled by the overall market data. In this regard he said, "the Greater Boston Market should be viewed as a macro-market consisting of thousands of micro-markets made up of broad suburban areas, specific communities and neighborhoods, as well as distinct price ranges. Home values and trends in these micro-markets can vary significantly from the macro-market in which they reside."