Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Boston-Cambridge-Newton, MA-NH (CBSA) (MEDLISPRIPERSQUFEE14460) from Jul 2016 to Feb 2025 about Boston, NH, MA, square feet, listing, median, price, and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Middlesex County, MA (MEDLISPRIPERSQUFEEYY25017) from Jul 2017 to Feb 2025 about Middlesex County, MA; Boston; MA; square feet; listing; median; price; and USA.

The Back Bay district was the most expensive real estate market for office space in Boston in the third quarter of 2024. On average, the average asking rent was about 69 U.S. dollars per square foot of office space. Downtown Boston, the market with the largest inventory of office space among Boston districts, had the second highest rent, at about 68 U.S. dollars. The gross rental rate usually includes costs for utilities and other general maintenance expenses.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting 168 U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded 500,000 U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly 12 percent year-on-year, and in 2022, the increase was even higher, at close to 17 percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Washington DC was the most expensive major city for office space, among those being considered for Amazon’s second headquarters, in the United States in 2017. Tenants paid, on average, 595 U.S. dollars per square foot for office space in that city, compared with 550 U.S. dollars and 486 U.S. dollars per square foot in Boston and Austin respectively.   Why is Washington DC so expensive? The GDP of the Washington metro area has steadily risen since 2001, which indicates that the economy is growing. This is not surprising, because it is the capital of the United States and, consequently, its political epicenter. All three branches of government, nearly 200 foreign embassies and several international organizations - such as the IMF, the World Bank and the National Geographic Society - are located there, which also means that it’s the logical place for lobbying firms and many financial services companies to operate from.

Further growth expected in Washington DC The future of the office real estate market in Washington DC looks promising, due to its political importance and strong economy. Office rents are forecast to grow by almost six percent by 2021, which is impressive given how high they already are. However, vacancy rates are also set to rise in the area, which means that more available office units will be unoccupied.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Plymouth County, MA (MEDLISPRIPERSQUFEE25023) from Jul 2016 to Feb 2025 about Plymouth County, MA; Boston; MA; square feet; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Suffolk County, MA (MEDLISPRIPERSQUFEEYY25025) from Jul 2017 to Feb 2025 about Suffolk County, MA; Boston; MA; square feet; listing; median; price; and USA.

The average monthly asking rent for shopping center space in Boston, Massachusetts, increased between 2020 and 2024. Rents peaked at 24.21 U.S. dollars per square meter in the 1st quarter of 2024. Hawaii, San Francisco, and San Jose were the markets with the highest average shopping center rent in the U.S.

In the last quarter of 2024, San Francisco, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at 280 U.S. dollars per square foot and Las Vegas for single-family homes between 235 and 470 U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over twice more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over five percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Norfolk County, MA (MEDLISPRIPERSQUFEEYY25021) from Jul 2017 to Feb 2025 about Norfolk County, MA; Boston; MA; square feet; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Essex County, MA (MEDLISPRIPERSQUFEE25009) from Jul 2016 to Feb 2025 about Essex County, MA; Boston; MA; square feet; listing; median; price; and USA.

In the last quarter of 2024, Portland and San Francisco were some of the most expensive cities in the United States for the construction of general hospitals. The cost of building a hospital in Portland ranged between 900 and 1,200 U.S. dollars. Boston and Los Angeles were the next cities in the ranking. Meanwhile, Las Vegas was one of the cheapest city in the list to build a general hospital.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Strafford County, NH (MEDLISPRIPERSQUFEEMM33017) from Jul 2017 to Feb 2025 about Strafford County, NH; Boston; NH; square feet; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Rockingham County, NH (MEDLISPRIPERSQUFEEYY33015) from Jul 2017 to Feb 2025 about Rockingham County, NH; Boston; NH; square feet; listing; median; price; and USA.