Massachusetts is one of the oldest establishments in the United States. First settled on by the early colonialist in the 17th century, the state has a very rich American history. Many of the towns and cities in the state are as old as the U.S. Early colonists in Boston even played a large part in the American Revolution from England. Today, the state has developed into an expansive urban metropolis. The city of Boston is one of the largest cities on the East Coast and a center for education, health care, and technology. The rest of the state is a strong mix of urban, suburban, and rural area, with the majority of the state being urbanized. Population increases throughout the state since the start of the country have helped to develop the state into what it is today.

The state’s location on the Atlantic Coast and close proximity to other major cities like New York and Philadelphia has made it an easy location for business and travel between states. Bordered by Connecticut and Rhode Island to the south, New York to the west, and Vermont and New Hampshire to the north; it is in the center of the New England states (the six states in the Northeastern corner). Many of the neighboring states come to Massachusetts for higher education, job opportunities, and tourist attractions. Many different historical sites are found throughout the state including: Plymouth Rock, where the Mayflower first landed in America; the site of the Salem witch trials in the town of Salem; and the site of the famous Boston Tea Party, which helped start the American Revolution. Read more »

Although most of the state is urbanized, the majority of the population lives in the Boston metropolis area. Approximately 6.4 million people live in the area and it continues to grow. Considered the capitol of the New England states, it is center for education, business, and health care. Harvard, the first college in the country is located in Boston suburb, Cambridge. Harvard and many other nationally esteemed universities are located in or around the Boston area including; Boston University, Massachusetts Institute of Technology, and Boston College. Universities like Boston University employ a large number of employees for the state and help to support the economy. Other major businesses like Liberty Mutual and the many other hi-tech companies headquartered in the state create numerous jobs for residents living in and around the area. Successful sports teams play another important part for the state’s economy by generating revenue and attracting attention from all over the world. The famous Boston Red Sox is one of the most popular sporting teams in the world and sells out tickets every year. Other popular teams in Boston like the New England Patriots and the Boston Celtics also help to generate income for the state.

Sales Trends
The Boston housing market has done fairly well in this economy. With a stable source of employment from education and health sectors, jobs have remained at a reasonably consistent level. Builders are continuing to build new homes every day as more and more people move to the city. A total of 7,477 new homes were sold in 2008.

Other Key Trends
In today’s market, raising cost of living has made it more difficult to purchase a home. Massachusetts has one of the highest average prices for new homes in the country. As builders face more difficulties finding buyers for higher priced homes, a shift toward lower cost, more affordable housing is being made. Builders are focusing on making cheaper, more affordable housing for Massachusetts residents. In the future, housing prices should go down as more builders focus on affordable housing. Massachusetts residents will have the opportunity of purchasing a new home at a rate that hasn’t been seen in the state for years.  « Close »