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Housing market in Massachusetts on the rise

Housing market in Massachusetts on the rise
WEBVTT NEWSCENTER 5'S NICOLE ESTAPHANLOOKS AT WHAT YOU CAN GET FORYOUR MONEY.NICOLE: SOME HOPEFUL BUYERS TAKEA TOUR OF A WEST ROXBURY HOMAT THE HEIGHT OF A HOT HOUSINGTUESDAY MARKET THAT SHOWS NOSIGNS OF COOLING DOWN.WE ARE A LITTLE BIT SURPRISEDIN FACT, MUCH THE PRICE POINT ISMUCH HIGHER THAN CHICAGO.NICOLE: THE STICKER SHOCK BEINGFELT THROUGHOUT MUCH OF THESTATE, PARTICULARLY IN THEGREATER BOSTON AREA.>> IT IS GREAT FOR THE SELLERS,IT IS PARTICULARLY TOUGH FOR THEBUYERS.IT IS A TOUGH MARKET.NICOLE: RISING THEY ARE.IN MAY, THE MEDIAN HOME PRICE OFA SINGLE FAMILY HOME HIT ANALL-TIME RECORD FOR THE MONTH$370,000, UP $18,000 OVER THEPREVIOUS RECORD IN 2005.>> YOU FIND A HOUSE THAT YOUWANT, YOU HAVE TO ACT ON ITQUICKLY.NICOLE: WHAT IS CREATING THESELLER'S MARKET? >> WE HAVE A LOT OF PEOPLE ANDNOT A LOT OF HOUSING STOCK TOBEGIN WITH. NICOLE: WHAT CAN YOU GET FORAROUND $500,000? THESE PEOPLE ARE GOING TO THECITY AND THE BACK BAY, AONE-BEDROOM, ONE THAT --BATHROOM 433 SQUARE FEET.THEY ARE LOOKING FOR A FIVEBEDROOM, FIVE BATH 4000-SQUAREFOOT HOME AND IN WALPOLE, A THREE BEDROOMHOME WITH A STRETCH OUT ABLE2000 SQUARE FEET.WHAT WE ALL WANT TO KNOW, ISTHERE A PEAK AT THE END OF THIUPHILL CLIMB?>> IF I KNEW IN THE EARLY IWOULD BE SITTING ON THE BEACH
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Housing market in Massachusetts on the rise
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