Realtors in Quincy MA

Quincy

Homes For Sale In Quincy. Explore the dynamic real estate market of Quincy, MA, a city known for its rich history and coastal charm. Located just minutes from Boston, Quincy offers a diverse range of properties, from historic homes to modern condos with waterfront views. With excellent schools, beautiful parks, and a vibrant cultural scene, Quincy is perfect for families, professionals, and retirees alike.
Homes For Sale In Quincy

Quincy, MA - Real Estate Trends Analysis by Key Prime Realty

Quincy, Massachusetts has been experiencing a robust real estate market, with significant price appreciation and competitive conditions for buyers looking for Homes For Sale In Quincy. Here’s an overview of the current situation and key factors for potential buyers to consider: 

Price Appreciation – Quincy’s housing market has seen substantial growth in recent years. The median home value in Quincy is approximately $647,142, reflecting an impressive 8.7% increase over the past year. This trend is consistent across various data sources, with Redfin reporting an 8.3% year-over-year increase in median sale prices, reaching $625,000 in March 2024.The price appreciation extends across different property types: 

  • 1-bedroom homes: 2.9% increase 
  • 2-bedroom homes: 3.9% increase 
  • 3-bedroom homes: 4.6% increase 
  • 5+ bedroom homes: 2.6% increase 
This consistent growth across various property sizes indicates a strong overall market performance. 

Homes for Sale – As of December 2023, Quincy had 143 homes for sale, representing a 19.2% decrease from the previous month. This reduction in inventory suggests a tightening market, which could further drive competition among buyers. The breakdown of available homes by bedroom count is as follows: 

  • 1-bedroom: 15 homes 
  • 2-bedrooms: 46 homes 
  • 3-bedrooms: 41 homes 
  • 4-bedrooms: 23 homes 
  • 5+ bedrooms: 18 homes 

Market Competitiveness – Quincy’s real estate market is characterized as very competitive, with homes receiving an average of 5 offers. Properties typically sell in around 21 days, indicating high demand and quick turnover. Many homes receive multiple offers, with some buyers waiving contingencies to make their bids more attractive. 

What Buyers Should Consider 

  1. Act quickly: With homes selling rapidly, buyers should be prepared to make decisions and submit offers promptly. 
  2. Competitive offers: Given the multiple-offer environment, buyers may need to consider offering above list price or waiving certain contingencies to stand out. 
  3. Financing: Getting pre-approved for a mortgage can strengthen your position as a buyer in this competitive market. 
  4. Location: Consider the various neighborhoods within Quincy, such as Quincy Point, Quincy Center, and South Quincy, each offering different amenities and price points. 
  5. Long-term value: While prices have appreciated significantly, buyers should also consider the potential for future growth and the area’s overall desirability. 
  6. Market timing: Keep in mind that real estate markets can fluctuate. While Quincy has shown strong appreciation, buyers should be prepared for potential market changes. 
  7. School districts: For families with children, researching local schools is crucial, as enrollment policies may not be solely based on geography. 
  8. Climate considerations: Buyers should be aware of potential natural hazards and environmental risks specific to the area. 
In conclusion, Quincy’s real estate market presents both opportunities and challenges for buyers. The strong price appreciation indicates a solid investment potential, but the competitive nature of the market requires buyers to be well-prepared and decisive. By considering these factors and working with a local real estate professional, potential buyers can navigate Quincy’s dynamic housing market more effectively

Quincy MA Real Estate Market Report