“Metro Boston’s housing market was affected by the real estate bubble earlier—and less severely— than other metro areas around the country” and sale price declines have brought homes to historic affordability levels, according to a paper by the Concord Group, a real estate consultancy. Prices peaked in 2005 at $462,160 (in 2010 dollars) and have since dropped a total of 20.7 percent. Despite the fall, home sale prices have still increased in real dollars over the last 20 years.
1990 Price: $267,030 ($159,900 in 1990 dollars)
2010 Price: $366,500
Change in Real Dollars: +37.2 percent
Year Home Prices Peaked: 2005