Real Estate Update for Revere!

Dated: 10/10/2018

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The City of Revere is situated in eastern Massachusetts (Suffolk County) and borders Winthrop, East Boston and Chelsea to the south, Everett and Malden to the west, Saugus and Lynn to the north and the Atlantic Ocean to the east. It comprises 10.0 square miles.  Of the 5.9 miles of developed land, 70% is used for housing. Revere is located approximately 5 miles from downtown Boston.  Revere’s first inhabitants were Native Americans who belonged to the Pawtucket Tribe and were known as the Rumney Marsh Indians. Today, with a population of 53,179 people, Revere is a densely populated residential community with little industry.  The MBTA Blue Line continues to serve the community as a link to Boston.

In July and August of 2018, home sales decreased from 47 homes sold in 2017 to 37 homes sold in 2018.  Days on market for a home averaged 32 days in 2017 and 31 days in 2018.  There was a big increase in prices in 2018 - the average home sold for $446,458 up from $383,093 in 2017.

The condo market in Revere increased to 27 condos sold during July and August in 2018 compared to 17 sold in the same time period in 2017.  The days a condo stayed on the market increased from an average of 32 days in 2017 to 47 days in 2018.  There was also a substantial increase in the average price of a condo from $293,900 in 2017 to $368,717 in 2018.

Looking to buy or sell your home?  Contact EXIT Realty All Stars in Braintree!

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