Boston Herald HomeSmart Contributor Jennifer Athas on the Boston Real Estate Market

Of course it's about the money what else could be about that we talked about here to finance a film called the financial exchange. My name's -- Armstrong. Of young blonde woman across from me is June night. Ruled that glass must be blogging up on you call me young yet another look -- I -- looking pretty good over here everything's relative June everything Israel because the Dow is up six points now in the NASDAQ is up 1518 a little CIA gave you compliment I didn't even know that market was up when that happens. They Jennifer how're you -- over the Boston Herald what's going on. I'm doing great how are you guys doing. So I can't believe that their real estate market is just turned around overnight seemingly -- -- talk to us about these numbers I read your article today by the way. In the Boston Herald called home Smart nice article but -- what do you see infer prices in the Boston market. What we're saying is we're finally starting to see the price increases. I mean we've had tied inventory we have increased demand and you know we're starting to see that turning point with the prices are creeping up compared to last much. In -- the median prices up 6% from last year. So how far off are we from say 2005. I'm probably have another 10% 1015% to go on depending on the area in downtown Boston the prices are you know they're on their way back. So it give give me the number again in terms of how much were ahead of last year this time terms -- prices. -- and the increases to 6% of median price increases 6% compared to last year. You wrote about Somerville white Somerville so hot. Hello Phillip that is really. It's really a great great place since. You know what they call it right like some people call it's -- Right Sodini it's like why why you would why would a town would that and AG reputation. Be all the sudden on the increase in terms of price. Well in terms of breaking the chemical has a lot of things going -- they have access they have great public transportation access highway access. It's a relatively you know it's the market that a lot of people can get into the hum the prices tend to be a little bit lower. And what they're seeing in Somerville as the announcer -- what's happening in Cambridge. The inventory levels in Cambridge are so low right now you're having a lot of you know -- requires that you can't afford Cambridge -- there's nothing available in their telling into. In areas like -- now. Why the inventory levels solo they like inventories down what 20% from last year. In inventories. Statewide its standards just a couple percentage points in certain cities and Boston is down 22%. Want it. Too -- -- Cambridge is down 44%. Compared to last year. CU RE are you at the point now where you're actively trying to get people to list their property for sale. -- -- is that that's how bad the inventory problems are. Oh it is that if you have a buyer you -- your -- really just -- waiting for you know. To get them what they want and and you're just you're working twice as hard because -- and we're just there. Any bidding wars anything going over the list price. Really. Well how long has it been since that happened. Now what about the verbs like Cuellar about say South Shore Weymouth Braintree. -- that area how how is that doing Quincy. You know really. You know Quincy because it's a little. Quincy not Quincy c'mon now. -- the New Zealand. Sequoia -- you can have a political located at that -- is they're seeing an up tick in them prices on their inventory is down about 15%. Put places like Braintree -- pretty much flat compared to last year. Okay so it hasn't spread -- -- where you're saying is that. In the city you're seeing price increases and lower inventory levels does it spread -- is this just always gonna be isolated to inside when Tony. You know I think it is gonna spread and I think that you know the people that are staying put right now we're sort of suppliers that are you know their trade up buyers and buyers that are. In May be accused kids they've outgrown their place but they're trying to wait to get more down payment or their credit could to get things up for up in over the past couple years that's. That's the part of the market that's you know we're not saying as much out right now. What about first time buyers see it or is it because last time I talk to you were saying. He can't believe how many people are paying cash for property right to come and and DeVine a fourth namely they're in they're just write a check for 600 -- REC and you know that there's recent college graduate after the young couple coming out and and try to buy a place. Yes definitely we're seeing that the first time home buyer is definitely back to the people that have been renting and waiting -- buying it are are definitely in the market now. And what do you attribute that to just confidence their unemployment -- what's what's what makes it happen. I you know I think the job market when the job market comes back that's really the key to that housing market and I think that you know the job market improved. You can see the first time vote by you know more first time buyers in the market. Well Jennifer nice job thanks for thanks for joining us I think -- That's Jennifer at -- joining us from the Boston Herald today.