• Wed. Jun 23rd, 2021

Real estate market heats up as end of Green Line Extension project nears

The real estate market is heating up as the end of the long-awaited Green Line Extension project nears.“We’re probably around 70{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} complete working towards completion,” project manager John Dalton said.Dalton said progress is being made on the more than 4 miles of expansion of the rail system.“It’s really a game-changer for this community,” he said.“People are looking at this as an opportunity to get a little bit more space but also have the access to transit right in their back yard,” said Emily Nichols, a real estate agent for the Carlisle Group in Boston.Nichols said sale prices in the area have gone up just under 40{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} on average since the announcement of the GLX in 2016, with the average price point for a condo or single-family property increasing almost $250,000.“We’re definitely seeing a lot of sellers that want to capitalize on the market right now,” Nichols said. “It’s actually projected that the increase in property value is going to increase anywhere from 15 to 35{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} once the completion is actually done.”The Green Line extension is expected to be completed in December.

The real estate market is heating up as the end of the long-awaited Green Line Extension project nears.

“We’re probably around 70{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} complete working towards completion,” project manager John Dalton said.

Dalton said progress is being made on the more than 4 miles of expansion of the rail system.

“It’s really a game-changer for this community,” he said.

“People are looking at this as an opportunity to get a little bit more space but also have the access to transit right in their back yard,” said Emily Nichols, a real estate agent for the Carlisle Group in Boston.

Nichols said sale prices in the area have gone up just under 40{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} on average since the announcement of the GLX in 2016, with the average price point for a condo or single-family property increasing almost $250,000.

“We’re definitely seeing a lot of sellers that want to capitalize on the market right now,” Nichols said. “It’s actually projected that the increase in property value is going to increase anywhere from 15 to 35{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} once the completion is actually done.”

The Green Line extension is expected to be completed in December.